Washington continues adding jobs even as possible recession looms

Aug 4, 2022
Written by WR Communications

Although the hiring rate is slowing, Washington state added an estimated net total of 2,500 jobs in June, according to a report by the Employment Security Department (ESD.) The most jobs added were in the Seattle area, a total of 3,300 jobs, while other areas of the state had lower job numbers.

The state added 85,000 jobs during the first six months of 2021 compared with 58,900 year-over-year in 2022.

“Labor market conditions remain strong for now, but hiring is showing signs of slowing,” said ESD’s State Economist Paul Turek. “Efforts underway to curb high inflation — such as raising interest rates — will likely continue to dampen job growth and hiring as the year progresses.”

The preliminary seasonally adjusted monthly unemployment rate in May dropped slightly to 3.9%. Nationally, nonfarm jobs increased by 372,000 in June, exceeding economists’ expectations.