Most western states don't tax by-product fuel
A bill before the state house of representatives (HB 2038) would require petroleum refiners to pay use tax on fuels they use that are by-products of the refining process. Bill supporters claim that Washington is unusual in not taxing such fuels. This is not true. These fuels would be untaxed in 8 of the other […]
April 17 , 2013 - Kriss Sjoblom
Monthly employment report for Washington: unemployment rate falls to 7.3 percent while the state loses 5,500 jobs
The Employment Security Department’s Monthly Employment Report was released this morning. The preliminary estimate for March puts the state’s unemployment rate at 7.3%, down from 7.5% in February. Despite this unemployment rated drop, the preliminary employment estimate shows that the state lost 5,500 jobs (seasonally adjusted) from February to March. This follows a revised gain […]
April 11 , 2013 - Kriss Sjoblom
March 11 to April 10 state revenue collections beat forecast by $28.7 million
Budget writers received a bit of good news today in the Economic and Revenue Forecast Council’s monthly Economic and Revenue Update. For the March 11 to April 10 period, collections were a bit above the amount expected under the forecast adopted on March 20. Key points from the summary: Major General Fund-State revenue collections for […]
March 29 , 2013 - Kriss Sjoblom
New policy brief: Revenue and Caseload Forecasts Set the Stage for Budget Writers
We have posted a new policy brief, Revenue and Caseload Forecasts Set the Stage for Budget Writers, which can be downloaded through this link.
March 22 , 2013 - Kriss Sjoblom
From tailwind to headwind Boeing announces that it will lay off 800 machinists by year end
A story (here) on the Seattle Time website says that Boeing will lay off 800 machinists by year end. With attrition "the total number of positions cut this year will be between 2,000 and 2,300." This news is not a complete surprise, as state forecasters have expected that Boeing's employment would peak this year. The […]
March 20 , 2013 - Kriss Sjoblom
More on the revenue forecast
As I noted in an earlier post, the economic and revenue forecast council issued revised forecasts today. For the general fund-state account, the new forecasts are up $59 million for 2011-13, down $19 million for 2013-15, and down $49 million for 2015-17. For the education legacy trust account (which receives proceeds from the estate tax […]
March 20 , 2013 - Kriss Sjoblom
Chart on Washington jobs
Here is a chart comparing job losses in Washington for the 11 recessions since World War Two.
March 20 , 2013 - Kriss Sjoblom
Preliminary estimate: Washington added 4,000 jobs in February
This morning the employment security department released preliminary estimates for February showing that the state added 4,000 jobs (seasonally adjusted) in February, 3,600 in the private sector and 400 in government. The preliminary estimate of the February unemployment rate is 7.5%. The estimate of the January job gain was revised upward by 100, to 24,200. […]
March 20 , 2013 - Kriss Sjoblom
March state revenue forecast up $59 million for 2011-13, down $19 million for 2013-15
The Economic and Revenue Forecast Council is currently meeting. The new foreast for the 2011-13 is up $59 million for 2011-13, down $19 million for 2013-15, and down $49 million for 2015-17. The handout for the meeting is available here.
March 14 , 2013 - Kriss Sjoblom
Google to expand in Kirkland
Recent articles in the Seattle Times (here) and the New York Times (here) cover Google’s Tuesday announcement that it would build two additional buildings at its Kirkland complex, providing space for an additional 1,000 employees. Currently Google has more than 1,000 employees in the region, with 60% in Kirkland and 40% Seattle’s Fremont neighborhood. The […]