Overall unemployment rate moved up to 3.5% with the biggest shift in Government, which lost 3,700 roles, based on the most recently available information published in September 2022.
Total employment in the Seattle-Tacoma-Bellevue, WA market declined by 7,672 jobs in August and the unemployment rate increased compared to the prior month by 30 bps to 3.5%. The national unemployment rate stayed flat over the same time period at 3.8%.
- Seattle-Tacoma-Bellevue, WA unemployment rate is 29 bps below the national rate which is a positive sign.
- Unemployment in the market is 110 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in August versus prior month by 2.5% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.1% . Key sectors include:
- Transportation & Utilities: 414,600; +1,200
- Business Services: 332,000; +2,900
- Education & Healthcare: 280,700; +100
- Government: 263,600; -3,700
- Restaurants & Hotels: 194,300; +1,300
- Manufacturing: 165,500; -400
- IT & Development: 155,100; -1,300
- Construction, Mining: 142,100; +1,700
- Financial Services: 106,300; +600
- Other Jobs: 70,700; +500
Data is based on the most recent 12 months available, through August 2022 (Data published September 2022 and reports created on September 28, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.