June Unemployment for Washington State July 16, 2008
Posted by hardly Strategic ConcernsFrom the 7/15 Puget Sound Business Journal:
Washington State Unemployment: 5.5%, up .2% from May's 5.3%.
Seattle-Bellevue-Everett area for June: 4.0%, which hold steady from May.
A couple of very interesting points in this article.
First, 12 months ago, the Seattle-Bellevue-Everett area was at 3.8%. So, we're up a bit in our overall metro area from last year. Remember last year, just before the mortgage industry crisis went critical when we were all feeling pretty good about things? I'm thinking that this report underscores my own observations in technical recruiting: Seattle is doing O.K., and the software/internet industry here as a whole is doing fairly well, with some exceptions (firms that are tied to construction, real estate, and travel are probably facing a tough headwind at the moment).
Second, look at the difference between the average for the overall state and Seattle-Bellevue-Everett. The overall state average has been ratcheting up quite a bit, and if you think about it, the area outside the Seattle-Bellevue-Everett area has got to be much higher than the state average.
I'm betting we'll be seeing more people migrating to Seattle for work. Any takers?
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