Unemployment rate lowers in February - March 20, 2007

07-016

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

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

OLYMPIA – More new jobs and more people finding work brought Washington’s unemployment rate down to 4.8 percent in February, according to the state Employment Security Department.

Washington employers added 4,100 nonfarm jobs (seasonally adjusted) last month.  At the same time, the unemployment rate dropped by three-tenths of a percentage point from January’s 5.1 percent. 

“Numbers like these show that Washington is a strong economic leader - we are still seeing a healthy increase in the number of jobs and that benefits everyone in the state,” said Governor Chris Gregoire.  “Our fit economy makes us an attractive choice for national and international industries looking to do business here.”

The service-providing sector accounted for 83 percent of new nonfarm employment, with the addition of 3,000 jobs.  Professional and business services added 1,800 new jobs, and leisure and hospitality payrolls increased by 1,100.

Construction added 600 jobs in February.  Over the year, construction added 11,200 jobs, making it second in job growth behind professional and business services, which gained 14,400 jobs.

Industries with the largest declines in February were government, with 1,200 fewer jobs; transportation, warehousing and utilities, down 300; and financial activities, down 300.

On a yearly comparison, more than 61,000 net new jobs were created in Washington from February 2006 to February 2007.  Nonfarm job growth was 2.2 percent, compared to a national rate of 1.5 percent.

“The strength of construction and professional and business services has been good news.  We hope job seekers will take advantage of the trends we are seeing across the state,” said Employment Security Commissioner Karen Lee. 

An estimated 190,500 people (not seasonally adjusted) currently 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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