Overall unemployment rate moved down to 3.7% with the biggest shift in Business Services, which gained 5,100 roles, based on the most recently available information published in April 2022.
Total employment in the Seattle-Tacoma-Bellevue, WA market rose by 44,792 jobs in February and the unemployment rate decreased compared to the prior month by 60 bps to 3.7%. The national unemployment rate decreased by 28 bps over the same time to 4.1%.
- Seattle-Tacoma-Bellevue, WA unemployment rate is 44 bps below the national rate which is a positive sign.
- Unemployment in the market is 220 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in February versus prior month by 6.2% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.0% . Key sectors include:
- Transportation & Utilities: 405,700; -2,800
- Business Services: 321,000; +5,100
- Education & Healthcare: 280,300; +3,000
- Government: 268,100; +4,000
- Restaurants & Hotels: 172,500; +2,700
- Manufacturing: 158,100; +1,500
- IT & Development: 146,800; +700
- Construction, Mining: 130,700; +4,200
- Financial Services: 103,300; +700
- Other Jobs: 68,700; +1,100
Data is based on the most recent 12 months available, through February 2022 (Data published April 2022 and reports created on April 6, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.