Overall unemployment rate moved up to 4.4% with the biggest shift in Transportation & Utilities, which lost 9,700 roles, based on the most recently available information published in March 2022.
Total employment in the Seattle-Tacoma-Bellevue, WA market declined by 12,094 jobs in January and the unemployment rate increased compared to the prior month by 90 bps to 4.4%. The national unemployment rate increased by 74 bps over the same time to 4.4%.
- Seattle-Tacoma-Bellevue, WA unemployment rate is 3 bps below the national rate which is a positive sign.
- Unemployment in the market is 230 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 6.3% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.1%. Key sectors include:
- Transportation & Utilities: 409,100; -9,700
- Business Services: 315,100; -4,100
- Education & Healthcare: 276,700; -1,300
- Government: 271,000; +900
- Restaurants & Hotels: 169,400; -4,400
- Manufacturing: 156,500; +200
- IT & Development: 146,100; +100
- Construction, Mining: 126,700; -3,500
- Financial Services: 102,500; -300
- Other Jobs: 67,900; -600
Data is based on the most recent 12 months available, through January 2022 (Data published March 2022 and reports created on March 18, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.