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Seattle Area Keeps Adding Jobs, Washington Unemployment Falls Below National Rate

Let’s have a look at the Seattle area’s employment situation.

First up, year-over-year job growth, broken down into a few relevant sectors:

Seattle-Area YOY Job Gains / Losses

Construction is posting gangbuster gains—up 11.5% year-over-year—as homebuilders attempt to capitalize on the inventory crunch. Finance / Real Estate is posting the smallest gains at just 0.8% year-over-year growth.

Here’s a look at the overall Seattle area unemployment rate compared to the national rate:

Seattle-Area Unemployment Rate

Unemployment fell again in Seattle and Washington State from November to December, as it more or less flat-lined nationally. As a result, Washington State’s unemployment rate fell below the national rate for the first time two years. The Seattle area is still outperforming Washington State and the nation as a whole, with December unemployment coming in at 7.8% for the US, 7.6% for Washington, and 6.5% for the Seattle area.

Sources:

 

Seasonally adjusted series used for all data sets.

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