Forbes published
an article in its online magazine this morning that ranks the top 10 cities for finding employment. Astonishingly, Washington D.C. was listed as #1. (
Wow, us!) The Washington Metro Region currently boasts one of the lowest unemployment figures in the country at 5.5%, 2.6 points lower than the national average of 8.1%, and it even experienced a small drop of about .3 this past month.
And yet something doesn't seem to fit. Everywhere I go, I meet or run into people that complain about needing to find 'real work' (me included, full disclosure). And understandably! Most of my otherwise accomplished peers are seriously underpaid. After some digging, I think I've found the cause of everyone's dissonance.
According to the
Bureau of Labor Statistics - which the Forbes rating is based on (5.5%, #1) - 'employment' includes unpaid work >.> :
"The household survey definition of employment comprises wage and salary workers (including domestics and other private household workers), self-employed persons, and unpaid workers who worked 15 hours or more during the reference week" (BLS Explanatory Notes)
Unemployment excludes unpaid, stipend-based, and underpaid positions (below minimum wage, for example) after 15 hours of work per week. For those of you less familiar with the DC labor market, estimates of local "unpaid" and underpaid interns (which fluctuate by season) are consistently between 20,000 and 40,000 on any given day, and that number skyrockets during non-academic summer terms when student and recent graduates from across the country flood into the District. DC's commercial industries are also very narrow compared to comparable metro-regions and are still largely limited to government and public contracting, telecommunications, computer software and hospitality services.