Unemployment rate drops to near-record low in January

Washington added 5,800 non-agricultural jobs in January, which helped decrease the unemployment rate to 4.5 percent, according to the state Employment Security Department.
Washington added 5,800 non-agricultural jobs in January, which helped decrease the unemployment rate to 4.5 percent, according to the state Employment Security Department. The January unemployment rate came in one-tenth of a percentage point lower than the revised December 2007 unemployment rate of 4.6 percent, and one-tenth of a point higher than the record low set last March.
“These positive job numbers are further evidence that Washington’s economy is still healthy, despite what’s happening in other parts of the country,” said Governor Chris Gregoire. “These are historically low unemployment numbers.”
Industries with the largest job growth last month were retail trade, with 2,100 new jobs, financial activities, up 1,400, and education and health services, with 1,300 new jobs. The largest decline was in construction jobs, down 1,900.
Since January 2007, 61,900 net new jobs have been created in Washington. Over all, non-agricultural job growth increased by 2.1 percent, compared to a national rate increase of 0.7 percent.
An estimated 180,700 people (not seasonally adjusted) currently are unemployed and seeking work in Washington.
“Even with record low unemployment in our state, we know there are people who need extra help looking for a job,” said Employment Security Commissioner Karen Lee. “Our WorkSource offices are available to help anyone who needs help finding work or needs to improve some job skills.”
WorkSource offices are listed in the blue pages of telephone books and online at go2worksource.com. Assistance also is available by phone at 877-872-5627.
The revision of the December unemployment rate came after annual benchmarking, which tied payroll estimates from monthly surveys to actual payroll data from the first nine months of 2007.