Washington has a growing, diversified economy with an increasing percentage of professional and business service jobs. The gross state product of the District in 2010 was $103.3 billion, which would rank it No. 34 compared to the 50 U.S. states. The gross product of the Washington Metropolitan Area was $425 billion in 2010, making it the fourth-largest metropolitan economy in the United States. As of June 2011, the Washington Metropolitan Area had an unemployment rate of 6.2%; the second-lowest rate among the 49 largest metro areas in the nation. The District of Columbia itself had an unemployment rate of 9.8% during the same time period.
In 2008, the federal government accounted for about 27% of the jobs in Washington, D.C. This is thought to immunize Washington to national economic downturns because the federal government continues operations even during recessions. However, as of January 2007, federal employees in the Washington area comprised only 14% of the total U.S. government workforce. Many organizations such as law firms, independent contractors (both defense and civilian), non-profit organizations, lobbying firms, trade unions, industry trade groups, and professional associations have their headquarters in or near D.C. to be close to the federal government.
The District has growing industries not directly related to government, especially in the areas of education, finance, public policy, and scientific research. Georgetown University, George Washington University, Washington Hospital Center, Children's National Medical Center and Howard University are the top five non-government-related employers in the city as of 2009. According to statistics compiled in 2011, four of the largest 500 companies in the country were located in the District.
Washington became the leader in foreign real estate investment in 2009, ahead of both London and New York City, in a survey of the top 200 global development companies. In 2006, Expansion Magazine ranked D.C. among the top ten areas in the nation favorable to business expansion. Despite the national economic crisis and housing price downturn, Washington ranked second on the Forbes list of the best long-term housing markets in the country.
Historic sites and museums
The National Mall is a large, open park in downtown Washington between the Lincoln Memorial and the United States Capitol. Given its prominence, the mall is often the location of political protests, concerts, festivals, and presidential inaugurations. The Washington Monument and the Jefferson Pier are located near the center of the mall, south of the White House. Also located on the mall are the National World War II Memorial at the east end of the Lincoln Memorial Reflecting Pool, the Korean War Veterans Memorial, and the Vietnam Veterans Memorial.
Directly south of the mall, the Tidal Basin features rows of Japanese cherry blossom trees that originated as gifts from the nation of Japan. The Franklin Delano Roosevelt Memorial, George Mason Memorial, Jefferson Memorial, Martin Luther King, Jr. Memorial, and the District of Columbia War Memorial are located around the Tidal Basin.
The National Archives houses thousands of documents important to American history including the Declaration of Independence, the United States Constitution, and the Bill of Rights. Located in three buildings on Capitol Hill, the Library of Congress is the largest library complex in the world with a collection of over 147 million books, manuscripts, and other materials. The United States Supreme Court Building was completed in 1935; before then, the court held sessions in the Old Senate Chamber of the Capitol.
The Smithsonian Institution is an educational foundation chartered by Congress in 1846 that maintains most of the nation's official museums and galleries in Washington, D.C. The U.S. government partially funds the Smithsonian, thus making its collections open to the public free of charge. The most visited of the Smithsonian museums in 2010 was the National Air and Space Museum located on the National Mall. Other Smithsonian Institution museums and galleries located on the mall are: the National Museum of Natural History; the National Museum of African Art; the National Museum of American History; the National Museum of the American Indian; the Sackler and Freer galleries, which both focus on Asian art and culture; the Hirshhorn Museum and Sculpture Garden; the Arts and Industries Building; the S. Dillon Ripley Center; and the Smithsonian Institution Building (also known as "The Castle"), which serves as the institution's headquarters.
The Smithsonian American Art Museum and the National Portrait Gallery are located in the same building, the Donald W. Reynolds Center, near Washington's Chinatown. The Reynolds Center is also known as the Old Patent Office Building. The Renwick Gallery is officially part of the Smithsonian American Art Museum but is located in a separate building near the White House. Other Smithsonian museums and galleries include: the Anacostia Community Museum in Southeast Washington; the National Postal Museum near Union Station; and the National Zoo in Woodley Park.
The National Gallery of Art, located on the National Mall near the Capitol, features works of American and European art. The gallery and its collections are owned by the U.S. government but are not a part of the Smithsonian Institution. The National Building Museum, which occupies the former Pension Building near Judiciary Square, was chartered by Congress as a private institution to host exhibits on architecture, urban planning, and design.
There are many private art museums in the District of Columbia, which house major collections and exhibits open to the public such as the National Museum of Women in the Arts; the Corcoran Gallery of Art, the largest private museum in Washington; and The Phillips Collection in Dupont Circle, the first museum of modern art in the United States. Other private museums in Washington include the Newseum, the O Street Museum Foundation, the International Spy Museum, the National Geographic Society Museum, and the Marian Koshland Science Museum. The United States Holocaust Memorial Museum located near the National Mall maintains exhibits, documentation, and artifacts related to the Holocaust.