Overall unemployment rate moved up to 3.3% with the biggest shift in Government, which gained 7,500 roles, based on the most recently available information published in December 2022.
Total employment in the Seattle-Tacoma-Bellevue, WA market declined by 1,158 jobs in October and the unemployment rate increased compared to the prior month by 10 bps to 3.3%. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Seattle-Tacoma-Bellevue, WA unemployment rate is 10 bps below the national rate which is a positive sign.
- Unemployment in the market is 60 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October versus prior month by 1.8% 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: 417,500; +3,300
- Business Services: 330,100; +1,000
- Education & Healthcare: 288,600; +3,800
- Government: 275,700; +7,500
- Restaurants & Hotels: 186,800; -2,900
- Manufacturing: 164,800; +200
- IT & Development: 154,000; -6,800
- Construction, Mining: 143,200; +1,100
- Financial Services: 105,600; -300
- Other Jobs: 68,300; -1,200
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.