Overall unemployment rate moved up to 2.8% with the biggest shift in Restaurants & Hotels, which gained 5,100 roles, based on the most recently available information published in June 2022.
Total employment in the Seattle-Tacoma-Bellevue, WA market declined by 1,829 jobs in May and the unemployment rate increased compared to the prior month by 20 bps to 2.8%. The national unemployment rate increased by 4 bps over the same time to 3.4%.
- Seattle-Tacoma-Bellevue, WA unemployment rate is 58 bps below the national rate which is a positive sign.
- Unemployment in the market is 200 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in May versus prior month by 6.5% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.3% . Key sectors include:
- Transportation & Utilities: 407,300; -1,700
- Business Services: 328,400; +700
- Education & Healthcare: 282,300; -1,200
- Government: 269,100; -500
- Restaurants & Hotels: 184,700; +5,100
- Manufacturing: 159,600; +1,500
- IT & Development: 149,500; +2,000
- Construction, Mining: 134,800; -700
- Financial Services: 106,400; +1,200
- Other Jobs: 69,700; +600
Data is based on the most recent 12 months available, through May 2022 (Data published June 2022 and reports created on June 29, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.