The August 2012 employment statistics have been published for the State of Washington. The State's August unemployment rate rose slightly (0.1%) to 8.6%. This is the third straight monthly increase and the highest rate for Washington since December last year. There are about 301,600 unemployed individuals in WA, an increase of around 2,800 over last month. The number of employed people also went down for the month by about 24,000 to 3.2 Million. Additionally, the total workforce fell by 21,000 to roughly 3.5 Million in August. The net impact of these numbers is the small August increase in the state's unemployment rate.
Compared to August 2011, the current rate is much improved over the August 2011 rate of 9.2%. There are around 18,000 fewer people unemployed in WA year-to-year. There are also 35,000 more people employed and roughly 17,400 more workers in the total workforce in 2012 vs. 2011. The recent trend, however, is largely up. While the unemployment rate largely fell for the last half of 2011, Washington's unemployment rate has been gradually going up since it bottomed at 8.2% in April 2012.
Other states in the region have seen similar trends. Compared to these other neighboring states, Washington's results are mixed for August 2012. The state of California continues to have a higher rate than WA at 10.6%. Also higher in August are Oregon (8.9%) and Nevada (at a region-high 12.1%). Several states in the region, however, have lower rates including Colorado (8.2%), Idaho (7.4%), and Arizona (8.3%). Compared to the nation, Washington State continues to track higher than the U.S. average of 8.1%. Additionally, the U.S. unemployment rate dropped 0.2% in August, and has stayed in the 8.1% to 8.3% range for 2012.
Another helpful breakdown of the employment statistics for August is by business type (non-farm). Most WA business sectors experienced employment decreases in August. These included Government, Professional & Business Services, Education & Health Services, Leisure & Hospitality, and Trade Transportation and Utilities. A couple industries did manage gains in August, including Construction, Manufacturing, and Financial Activities. The largest major business sector in Washington is Trade Transportation and Utilities with 539,700 employed, closely followed by Government with 534,300. The biggest improvement in the past year was in Manufacturing with a 5.8% increase. The biggest decrease was Mining and Logging at -3.4%.
Next month the U.S. Department of Labor will release Washington's employment statistics for September 2012. Please check back when we review the results for WA and see how it compares to the nation and others in the area. Remember that previously released employment numbers may be updated at a later date.
Compared to August 2011, the current rate is much improved over the August 2011 rate of 9.2%. There are around 18,000 fewer people unemployed in WA year-to-year. There are also 35,000 more people employed and roughly 17,400 more workers in the total workforce in 2012 vs. 2011. The recent trend, however, is largely up. While the unemployment rate largely fell for the last half of 2011, Washington's unemployment rate has been gradually going up since it bottomed at 8.2% in April 2012.
Other states in the region have seen similar trends. Compared to these other neighboring states, Washington's results are mixed for August 2012. The state of California continues to have a higher rate than WA at 10.6%. Also higher in August are Oregon (8.9%) and Nevada (at a region-high 12.1%). Several states in the region, however, have lower rates including Colorado (8.2%), Idaho (7.4%), and Arizona (8.3%). Compared to the nation, Washington State continues to track higher than the U.S. average of 8.1%. Additionally, the U.S. unemployment rate dropped 0.2% in August, and has stayed in the 8.1% to 8.3% range for 2012.
Another helpful breakdown of the employment statistics for August is by business type (non-farm). Most WA business sectors experienced employment decreases in August. These included Government, Professional & Business Services, Education & Health Services, Leisure & Hospitality, and Trade Transportation and Utilities. A couple industries did manage gains in August, including Construction, Manufacturing, and Financial Activities. The largest major business sector in Washington is Trade Transportation and Utilities with 539,700 employed, closely followed by Government with 534,300. The biggest improvement in the past year was in Manufacturing with a 5.8% increase. The biggest decrease was Mining and Logging at -3.4%.
Next month the U.S. Department of Labor will release Washington's employment statistics for September 2012. Please check back when we review the results for WA and see how it compares to the nation and others in the area. Remember that previously released employment numbers may be updated at a later date.
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If you're unemployed in the State of Washington, please visit the WA Unemployment Headquarters.
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