New state forecast call for rising unemployment, hiring slowdown

May 29, 2019
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Written by Washington Retail
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The pace of hiring is expected to slow while the unemployment rate creeps up in Washington State, according to the latest quarterly economic outlook from the Economic Revenue Forcecast Council.

The report noted that payroll employment rose by 19,800 jobs in March and April, 6,000 more than expected in a March forecast.

But the report continues:

  • This year’s 2.2% growth rate for job creation is expected to slow to 1.2% in 2020 through 2023.
  • This year’s unemployment rate of 4.5% is expected to climb slowly and steadily to 5% in 2023.

 Click here to read the full report.