Job Gains Moderate in February as Unemployment Dips

Job Gains Moderate in February as Unemployment Dips

New local job stats came out this week, so let’s have a look at the Seattle area’s employment situation.

First up, year-over-year job growth, broken down into a few relevant sectors:

Seattle-Area YOY Job Gains / Losses

Construction growth fell off, dropping from an 8.2% year-over-year gain in January to just 5.4% in February, and the over ten percent gains we saw in that sector in the original December data was erased by revised data. With 6% year-over-year growth, the retail sector actually eclipsed construction as the fastest-growing in February.

Here’s a look at the overall Seattle area unemployment rate compared to the national rate:

Seattle-Area Unemployment Rate

Unemployment fell yet again in Seattle between January and February while it continued to flat-line nationally. Washington State’s unemployment is still below the national rate, while the Seattle area is still outperforming Washington State and the nation as a whole. February unemployment came in at 7.7% for the US, 7.5% for Washington, and 5.9% for the Seattle area.

Sources:

Seasonally adjusted series used for all data sets.

  

About The Tim

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market.

One comment:

  1. 1

    Unemployed Swept Under the Rug….We Don’t Count ‘em Anymore After 6 Months of No Jobs

    By 2020 Seattle’s population to double?

    http://www.susps.org/overview/immigration.html

    Where will they work? The Seattle/Bellevue/Tacoma Total Labor Force has been stagnant at about 1.9 million the last 4 years under Obama. See first graph from Obama’s BLS data base.

    http://data.bls.gov/timeseries/LAUMT53426606?data_tool=XGtable

    We must ignore this scientific demography evidence…..after all, Japan’s and Australia’s zero growth population has helped their economies…America is different? Believe the foreign/corporate brainwashing…

    Rate this comment: Thumb up 0

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