Washington’s economic prospects brightened in June, as the state gained an estimated 11,900 jobs, bringing the unemployment rate down to 3.8%, according to the latest data released by the Employment Security Department (ESD). The increase in employment has outstripped a moderate rise in the labor force, driving the unemployment rate to its lowest since February 2020.
According to ESD’s Monthly Employment Report for June, there was an increase in unemployment benefits claims, with 56,067 people paid, reflecting an increase of 820 paid claims over the previous month. This rise was attributed to increments within the educational services and information sectors.
Despite these increases, Washington’s unemployment rate of 3.8% in June still remained lower than the national average, which decreased from 3.7% to 3.6% in the same month.
Further, the ESD confirmed that the preliminary estimated gain of 2,900 jobs for May 2023 was revised upwards to a gain of 4,700 jobs and the seasonally adjusted monthly unemployment rate was confirmed at 4.1%.
The state’s labor force increased by 2,900 to reach 4,068,100 in June. Meanwhile, the labor force in the Seattle/Bellevue/Everett region saw a surge of 8,000. Year-over-year, the state’s labor force grew by 85,177 and the Seattle/Bellevue/Everett region witnessed an increase of 28,700.
From May to June 2023, statewide unemployment decreased from 165,000 to 154,500, except in the Seattle/Bellevue/Everett region, which slightly increased from 54,100 to 54,900. Private sector employment added 8,800 jobs, and government employment increased by 3,100. In June, seven industries expanded while six contracted, with the retail trade sector losing 2,800 jobs, particularly 900 jobs in food and beverage stores. From June 2022 to June 2023, Washington gained an estimated 117,900 jobs (not seasonally adjusted), with the private sector adding 92,300 jobs (3.1% growth) and the public sector adding 25,600 jobs (4.5% growth), showcasing the state’s resilient economic recovery.
