BLOOMBERG.COM
The Washington, D.C. economy is preparing for the day when younger workers break up with it. The fading of a Millennial-infused population boom in the nation's capital that carried through the Obama years, combined with Trump's efforts to slash the federal workforce, are but two factors that have the local economy locked in a painful transition from skyrocketing growth reliant largely on its federal patron to a more diversified and self-sustaining market. The 68-square-mile city could be in for some more growing pains as the Trump administration has directed agencies, effective Thursday, to hire only in line with levels proposed in the president's "skinny budget" submitted last month.
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The Washington, D.C. economy is preparing for the day when younger workers break up with it. The fading of a Millennial-infused population boom in the nation's capital that carried through the Obama years, combined with Trump's efforts to slash the federal workforce, are but two factors that have the local economy locked in a painful transition from skyrocketing growth reliant largely on its federal patron to a more diversified and self-sustaining market. The 68-square-mile city could be in for some more growing pains as the Trump administration has directed agencies, effective Thursday, to hire only in line with levels proposed in the president's "skinny budget" submitted last month.
Read more>