Washington unemployment at lowest rate in years - Nov. 14, 2006

06-096

Media contacts: Evelina Tainer, 360-438-4812
Caitlin Cormier, 360-902-9215

Audio: http://fortress.wa.gov/esd/portal/info/newsroom/audiofiles/audio/

OLYMPIA – Washington’s unemployment rate plunged one-half of a percentage point in October, aided by the addition of 10,700 new jobs, according to the Employment Security Department. 

The seasonally adjusted unemployment rate fell to 4.8 percent in October, down from 5.3 percent in September.

“This good news shows that Washington really is open for business and that both workers and businesses are benefiting from our strong economy,” said Governor Chris Gregoire. 

Manufacturing saw strong growth, with 2,300 new jobs over the month.  Among service-related industries, the largest gains were in retail trade, with 2,200 new jobs; leisure and hospitality, 2,100 jobs; and professional and business service, 1,300 jobs.  Construction added 1,500 jobs over the month.

There were no notable employment declines in any major industry sectors.

Washington’s unemployment rate for the first 10 months of 2006 was 4.9 percent, which is the lowest annual average rate in the state since 1999. 

“It is great news that we keep adding and filling new jobs,” said Employment Security Commissioner Karen Lee. “The opportunities continue to widen, and it’s bringing greater economic stability to our state.”

On a yearly comparison, more than 101,000 net new jobs were created in Washington from October 2005 to October 2006.  Since October 2005, non-farm job growth in the state was 3.6 percent, compared to a national rate of 1.5 percent over the year. 

Currently, there are an estimated 140,600 people who are unemployed and seeking work in Washington. Lee said she encourages job seekers to visit a local WorkSource office and to check online job listings at www.go2worksource.com.

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