Overall unemployment rate moved up to 3.9% with the biggest shift in Transportation & Utilities, which lost 6,800 roles, based on the most recently available information published in March 2023.
Total employment in the Seattle-Tacoma-Bellevue, WA market rose by 16,862 jobs in January and the unemployment rate increased compared to the prior month by 50 bps to 3.9%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- Seattle-Tacoma-Bellevue, WA unemployment rate is 4 bps above the national rate which is a negative sign.
- Unemployment in the market is 40 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 2.5% 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:
- Business Services: 396,100; -5,500
- Transportation & Utilities: 362,800; -6,800
- Education & Healthcare: 293,700; -1,300
- Government: 269,200; +800
- Restaurants & Hotels: 187,000; -3,600
- Manufacturing: 163,000; -400
- IT & Development: 142,000; -1,900
- Construction, Mining: 134,000; -2,400
- Financial Services: 102,800; -1,000
- Other Jobs: 71,100; -900
Data is based on the most recent 12 months available, through January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.