To follow up yesterday’s post on unemployment and labor force participation rate, here’s our breakdown of the job growth (or losses) in specific sectors for the Seattle area.
First up, year-over-year job growth, broken down into a few relevant sectors:
Here’s a look at just the last year zoomed in so you can see what’s going on recently:
Our last update back in July showed construction job growth peaking at a little over 10% in January, then falling off to under 4% by June. Revised numbers from the Washington State Employment Security Department have construction doing significantly better through the first half of this year, but still peaking in July at 12% year-over-year growth and falling off dramatically to just 1.4% growth as of October.
The retail sector’s 4.9% year-over-year growth made it the fastest-growing job sector in the Seattle area in October. Overall year-over-year growth has decreased from a high of 3.6% in July to just 2.6% in October.