Sunday, March 23, 2008

Washington State Economy Has Never Been Better

SEATTLE--Washington's unemployment rate last month remained at 4.5%, unchanged from January, according to Employment Security Department numbers. The 4.5% rate is just 0.1% above the record low set in March 2007. February's results mark the 13th consecutive month of unemployment under 5% (see chart above).

"One reason we have low unemployment is because businesses are still creating jobs, and they're finding the right type of workers to fill those jobs," Employment Security Commissioner Karen Lee said.

Employers added 3,500 seasonally adjusted jobs in February, the agency said. Industries with the largest seasonally adjusted job growth last month were retail trade, with 1,000 new jobs; leisure and hospitality, up 900; and professional and business services, with 600 new jobs. Construction employment is robust thanks to added growth in Eastern Washington, and manufacturing payrolls are up 5.4% over last year.


At 3/23/2008 4:16 PM, Anonymous Anonymous said...

The biggest factor in Washington's strength is Boeing, which is an export business these days. That should make us nervous when political candidates threaten trade wars.


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