District of Columbia Economic and Revenue Trends: October 2022

DC Economic and Revenue Trends 1 Office of Revenue Analysis Employment………………...2 Jobs by sector………...…….3 Wages and Income…………4 Multifamily housing and housing permits…...………….….6 Commercial office space.….7 Hospitality .…..…...….........10 US economy and federal government……….…..…...….....11 DC tax collections………….12 ORA reports, & documents.14 ORA contact info…………...14 Forecasts…………………….13 About………………………...14 District of Columbia Economic and Revenue Trends: October 2022 GOVERNMENT OF THE DISTRICT OF COLUMBIA OFFICE OF THE CHIEF FINANCIAL OFFICER OFFICE OF REVENUE ANALYSIS Muriel Bowser, Mayor Fitzroy Lee, Deputy CFO & Chief Economist Glen Lee, Chief Financial Officer Jeffrey Wilkins, Fiscal Analyst Single family and condomini- um housing sales………..….8 Population, jobs………….....5 Property transfer & deed….9 DC sales tax by source over me Sales tax revenues provide a glimpse into how people are spending their me in a city. DC’s revenues paint a story of recovery, but with different paths. While all business acvity dropped for a while (except for reliable liquor), restaurants and retail have re- bounded to new highs, while commung (parking) and tourism (hotels) are sll a touch behind previous highs. $ million Aug-22 Aug-21 Aug-20 Aug-19 Restaurant 32.3 24.4 12.8 30.6 Parking 5.9 4.6 2.6 6.8 Hotel 16.9 10.8 2.8 17.9 Retail 65.4 57.3 45.1 50.4 Liquor 3.2 3.3 3.4 3.1

District of Columbia Economic and Revenue Trends: October 2022

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