3.8% Unemployment Rate in WA State, construction up 900 jobs
State's jobless rate falls to 4.4% — a new low
By Drew DeSilver
Seattle Times business reporter
Unemployment in Washington fell to a record-low 4.4 percent in April, the third straight monthly decline this year, the state Employment Security Department said today.
The seasonally adjusted jobless rate declined from March's 4.6 percent, which had tied the previous record low set in November 1999.The rate for the Seattle-Bellevue-Everett metropolitan area dove even lower, to 3.8 percent from the 4.4 percent recorded in March.
Payroll employment, measured in a separate survey from the unemployment rate, grew by 2,900 jobs in April, up from a revised 700-job loss in March. More than 3.2 million people are now working in Washington state.
The construction industry continued to defy the housing slowdown, adding 900 jobs in April. Administrative and support services gained 1,600 jobs, and bars and restaurants added 500.
Manufacturing employment declined, however, mainly due to 900 jobs lost in food processing, and several other key industrial sectors were flat in the month.
The record is based on the current series of unemployment statistics which began in 1976.
By Drew DeSilver
Seattle Times business reporter
Unemployment in Washington fell to a record-low 4.4 percent in April, the third straight monthly decline this year, the state Employment Security Department said today.
The seasonally adjusted jobless rate declined from March's 4.6 percent, which had tied the previous record low set in November 1999.The rate for the Seattle-Bellevue-Everett metropolitan area dove even lower, to 3.8 percent from the 4.4 percent recorded in March.
Payroll employment, measured in a separate survey from the unemployment rate, grew by 2,900 jobs in April, up from a revised 700-job loss in March. More than 3.2 million people are now working in Washington state.
The construction industry continued to defy the housing slowdown, adding 900 jobs in April. Administrative and support services gained 1,600 jobs, and bars and restaurants added 500.
Manufacturing employment declined, however, mainly due to 900 jobs lost in food processing, and several other key industrial sectors were flat in the month.
The record is based on the current series of unemployment statistics which began in 1976.
Comments
Maybe every time someone posts something we should have a bot programed to post a reply that says "_______ is typical before a recession."
Increase in condo sales is typical before a recession.
(Yeah, right)
Low unemployment is typical before a recession.
(Oh, sure! Of course, more employed people is terrible for the economy)
A steep rise in rents is typical before a recession.
(Whatever)
A high # of Meshugy posts is typical before a recession.
etc, etc....so funny.
In 5/1979 unemployment was at a cyclic low of 5.6, 1 year later it was up to 7.5. Same happened in 1990 to 1991 5.2 > 6.9, and again in 12/2000 3.9 up to 5.7 by 12/2001.
Sorry you didn't know that unemployment rate is a lagging indicator to economic growth.
Mike2: Are you being sarcastic, dude?
Meshugy: I don't even know anymore.
Is this what is happening here?
Pictures say a thousand words
Perhaps this will help explain it to Shug and Finance.
Oh, and the gray bars are "recessions".
Shug - so who's wrong now? You need to change your user name to "pnwed"
However, a lower unemployment rate also is a leading indicator of business spending (on labor) since businesses spend a considerable amount to increase labor in an organization. They dont do such hiring lightly and is an inelastic event...as in they cut other expenses before laying off people, usually do it as a last resort.
My theory is that much of the increase is in govt jobs within the Seattle region (since the new WA state budget just passed...thus expanded state spending). There was also an increase of 900 in construction...which means there are more than enough jobs available in this category.
Either he's wrap-around insanely sarcastic to the point of being the embodiment of everything he doesn't believe, or he lacks a basic understanding of economics.
Since he spends his time here copying and pasting stuff and drawing simple conclusions... well, still it could be either.
Washington's unemployment rate increased slightly in May, to 4.6 percent, from April's record low of 4.4 percent.
In Seattle, the jobless rate inched up to 4.0 percent in May, from 3.8 percent in April.
http://seattlepi.nwsource.com/business/ ... obs13.html
Over the past several months I have been working with recruiters to get a FTE postion (which I got a sweet job downtown starting in Aug, as Im currently a contract worker). Several sources told me that the Unemployment rate for Professional Workers is about 1% - 2% (which gave me significant salary leverage, as I got the max salary in the pay range allowed + the 6 month tuition waiting period waived saving me $10,000).
From the same article Mike2 posted above: In Washington, employers added 6,400 new seasonally adjusted jobs in May. Industries with the largest job gains were professional and business services, with 1,900 new jobs; construction, up 1,200; wholesale trade, up 800; and education and health services, up 800 new jobs.
The largest decline was reported in information, down 400 jobs.
About 145,200 people (not seasonally adjusted) are unemployed and seeking work in Washington.
Seattle added 3,200 new seasonally adjusted jobs in May. Among the strongest sectors were manufacturing, up 800; education and health services, up 600; and leisure and hospitality, up 600. Construction also climbed, by 400 jobs.