State revenue collections report for February 11-March 10 period
On Monday, the Economic and Revenue Forecast Council reported general fund–state revenue collections for the February 11 – March 10 period in the monthly Economic and Revenue Update. For the period, collections exceeded forecast by $41.6 million (4.6%). EFRC staff attributes most of this positive variance to timing in payments and expects “payments in the […]
March 10 , 2013 - Kriss Sjoblom
A chart of unemployment insurance claims in Washington
Here is a chart of the four-week average of seasonally-adjusted initial claims for unemployment in Washington state. While the most recent values are above the average for 2006 and 2007, the two years preceding the great recession, these values are slightly below the average for 1999 and 2000, the two years preceding the dot-com collapse. […]
March 07 , 2013 - Kriss Sjoblom
Revenue forecast likely to be reduced
The Economic and Revenue Forecast Council met this morning in Olympia to discuss the preliminary version of the economic forecast that will underpin the updated revenue forecast scheduled to be unveiled on March 20th. The preliminary economic forecast is discussed in this memo. Handouts and slides from today’s meeting are available here. The new economic […]
March 06 , 2013 - Kriss Sjoblom
Initial estimate that Washington gained 24,100 jobs in January is likely to be revised downward
The state Employment Security Department today released the monthly employment report for January. The preliminary estimate is that seasonally adjusted employment in the state increased by 24,100 from December 2012 to January 2013. This number is likely to be revised downward in future reports, however, as the ESD press release indicates: It has been more […]
February 11 , 2013 - Kriss Sjoblom
Monthly state revenue collections report released today
The state Economic and Revenue Forecast Council issued its monthly Economic and Revenue Update today. Here are the document’s summary points on revenue. Major General Fund-State revenue collections for the January 11 – February 10, 2013 collection period were $8.4 million (0.6%) lower than the November forecast, but a shortfall had been anticipated due to […]
February 07 , 2013 - Kriss Sjoblom
Congratulations to Arun Raha, named top forecaster by the Wall Street Journal
Arun Raha, former Executive Director of the state Economic and Revenue Forecast Council, has been named top economic forecaster for 2012 by the Wall Street Journal. From the WSJ’s Real Time Economics blog: Arun Raha of power-management company Eaton Corp. was the year’s top economic forecaster, according to the Wall Street Journal’s annual rankings. The […]
December 11 , 2012 - Kriss Sjoblom
November 11 – December 10 state revenues were $72.7 million more than expected
The Economic and Revenue Forecast Council released its monthly Economic and Revenue Update today. For the November 11–December 10 collection “month,” revenue was well above forecast. However, it is likely that much of the excess will be reversed next month. From the summary: Major General Fund-State revenue collections for the November 11 – December 10, […]
November 19 , 2012 - Kriss Sjoblom
Monthly jobs report shows 6,700 gain for October in Washington
(Originally posted on 11/15/2012) According to preliminary estimates prepared by the U.S. Bureau of Labor Statistics and released today by the state Employment Security Department (ESD), Washington’s economy gained 6,700 jobs between the September and October reporting periods. The preliminary estimate of the October unemployment rate for the state is 8.2 percent. The estimate of […]
October 25 , 2012 - Kriss Sjoblom
New WRC Report: Washington's Prosperity Depends on Vibrant Tech Sector
The Research Council has posted a report titled “Washington’s Prosperity Depends on Vibrant Tech Sector,” which can be downloaded here. Briefly: Washington’s vibrant tech cluster has had a strong, positive effect on the state economy. The sector accounts for nearly two-thirds of Washington’s job growth since 1990 and more than half of the growth in […]
October 12 , 2012 - Kriss Sjoblom
Sept. 11 to Oct. 10 state revenue collections beat forecast by $36.6 million
The Economic and Revenue Forecast Council released the monthly Economic and Revenue Update today. General fund-state revenue collections for the September 11 to October 10 period beat the forecast by $36.6 million. However, Forecast Council staff believe that much of this “positive variance” is due to timing of payments and will offset by below-forecast collections […]