The Special Subcommittee on Federal Impacts to Resources convened on April 2, 2025, to discuss significant trends in employment data and its implications for the region. The meeting highlighted recent job growth figures, indicating a steady increase in payroll employment, with February 2025 seeing an addition of 151,000 jobs and January reflecting a gain of 125,000 jobs. These numbers suggest that employment growth is keeping pace with the rising working-age population.

However, the subcommittee noted signs of a softening labor market, which some members attributed to a normalization following the exceptionally tight job market experienced in 2022 and 2023. Job postings, which peaked in 2022, have returned to more typical levels, and quit rates have also decreased to figures comparable to those seen in 2015 and 2016.

A notable point of discussion was the reduction of 10,000 federal government jobs in February, attributed to a hiring freeze implemented in January. This reduction reflects broader trends in federal employment and its impact on local economies.

The meeting also included a review of employment data indexed to February 2020, indicating that the region has regained jobs lost during the pandemic recession. This data encompasses the Fifth Federal Reserve District, which includes North Carolina, South Carolina, Virginia, most of West Virginia, Washington D.C., and Maryland.

Overall, the discussions underscored the importance of monitoring employment trends and federal impacts on local resources, as the region continues to navigate the post-pandemic economic landscape. The subcommittee plans to further explore these issues in future meetings, focusing on the implications for workforce development and economic stability.