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Washington recovery continues

State of the state: Washington’s labor market Governor’s Distinguished Managers Association April 10 , 2014 Cynthia Forland, Director, Labor Market and Performance Analysis. Washington recovery continues. Recovered all jobs lost during the recession, but . . . .

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Washington recovery continues

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  1. State of the state: Washington’s labor market Governor’s Distinguished Managers AssociationApril 10, 2014Cynthia Forland, Director, Labor Market and Performance Analysis

  2. Washington recovery continues • Recovered all jobs lost during the recession, but . . . . • Recession and recovery mixed across industries. • Divergent recovery across the state. • Demand for unemployment benefits and employment services remains. • UI Trust Fund remains sound.

  3. Summary of key Washingtonlabor-market indicators Source: Employment Security Department/LMPA

  4. Nonfarm employment in Washington Currently up 8,100 from pre-recession peak Source: Employment Security Department/LMPA; U.S. Bureau of Labor Statistics, Current Employment Statistics

  5. Employment changes in Washington Recovery mixed across industries (NAICS Industry) Source: Employment Security Department/LMPA; U.S. Bureau of Labor Statistics, Current Employment Statistics

  6. Job growth and decline across state February 2013 to February 2014

  7. Definitions • Labor force ~ Ages 16 and up, working or actively seeking work. • Labor-force participation rate ~ % of a specific population that is in the labor force. • Unemployment rate ~ % of labor force that is unemployed and looking for work. • Employment rate ~ % of people in a specific population that are working.

  8. Unemployment rates Unemployment easing faster in Seattle-Bellevue-Everett area Source: Employment Security Department/LMPA; U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics, Current Population Survey. U.S. recessions are shaded in gray.

  9. Labor-force participation rates One factor driving decline in unemployment rate Source: Employment Security Department/LMPA; U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics. U.S. recessions are shaded in gray.

  10. Employment rates Employment rates have been flat since January 2009 Source: Employment Security Department/LMPA; U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics. U.S. recessions are shaded in gray.

  11. WorkSource Customers Source: Employment Security Department/LMPA, SKIES, Go2 and SSMS Data

  12. Employment rates Source: Employment Security Department/LMPA, DOL ETA 9002C

  13. Unemployment benefits Recipients down 70% from peak Source: Employment Security Department/LMPA; Unemployment Insurance Data Warehouse

  14. Benefit exhaustions Federal extensions end ̶ exhaustions spike Regular, extended and emergency benefits, combined Source: Employment Security Department/LMPA; Unemployment Insurance Data Warehouse

  15. Washington state UI trust fund

  16. Recap—recovery continues • Recovered 189,300 jobs lost during the recession. • Recession and recovery mixed across industries. • Divergent recovery across the state. • Demand for unemployment benefits and employment services remains. • UI Trust Fund remains sound.

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