Kriss Sjoblom

Preliminary estimate of 11,700 jobs added in Washington in May is likely to be revised downward

The state Employment Security Department released the Monthly Employment Report for May this morning. The preliminary estimate is that the state added 11,700 jobs from April to May. As I noted in an earlier post, initial estimates of employment are sometimes subject to significant revisions. The figure released today is likely to be revised downward […]

May 11 to June 10 state revenue collections were $15.1 million greater than forecasted

The Economic and Revenue Forecast Council’s monthly Economic & Revenue Update is out today. For the May 11 to June 10 month, “headline” general fund–state revenue collections were $15.1 million greater than the forecast. However, excluding special factors–$16.3 million in unanticipated refunds and a $31.4 million one-time transfer to the general fund–collections were $1.1 million […]

The Way We’re Taxed: A Brief History

Here’s a link to the WRC’s new policy brief: The Way We’re Taxed: Brief History.  

Preliminary Economic Forecast Posted by Economic and Revenue Forecast Council

The preliminary quarterly update to the Economic and Revenue Forecast Council’s forecast of the state economy was posted on Wednesday. The summary memo to the Governor’s Council of Economic Advisers is here. Detailed tables are here. The preliminary forecast will be reviewed at a public meeting in Olympia on May 31, and may be revised […]

Increased Federal Tax on Sales of Partnerships Will Cost Washington Jobs and Income

Recent federal proposals would apply ordinary income tax rates rather than capital gains rates to gains from sales of investment service partnership interests.  According to our analysis, this change could reduce annual personal income in Washington state by almost $300 million. Our Policy Brief on the subject is available here.

April 11 to May 10 general fund-state revenue collections were $7.6 million less than forecasted

The Economic and Revenue Forecast Council’s monthly Economic & Revenue Update is out today. For the April 11 to May 10 month, general fund–state revenue collections were a modest $7.6 million less than the forecast. For the three-month period from February 11 to May 10, collections are cumulatively $9.6 million greater than the forecast. The […]

Employment Report Shows State Added 3,300 Jobs in March; February Gain Revised Up to 4,800

The state Employment Security Department released the Monthly Employment Report yesterday. According to the U.S. Bureau of Labor Statistics’s preliminary estimate, the state added 3,300 jobs from February to March. The January to February estimate was revised up by 600 to show a gain 4,800 jobs. The preliminary estimate of the March unemployment rate is […]

Outlook for 2013-15 Under the Budget Passed by the Legislature

A number of folks have inquired about the budgetary outlook for the 2013–15 biennium under the supplemental budget passed last week by the legislature. The Office of Financial Management, I have been told, will prepare a 2015–15 outlook after Governor Gregoire completes her actions on bills passed in the session. Until the formal OFM outlook […]

March 11 – April 10 State Revenues $24.9 Million Above Forecast

Hours after legislators decamped from the capital, the state Economic and Revenue Forecast Council’s monthly Economic and Revenue Update provided a bit of fiscal good news: Collections for the March 11 – April 10 period were $24.9 million above forecast. Collections for the preceding February 11 – March 10 period (reported on March 12) were […]

State-Run Pensions: Reform Early Retirement

Pensions remain one of three reform issues holding up completion of the supplemental budget. In an earlier post, Emily described the pension reform bill passed by the Senate during the regular session. The most recent public proposal from the Senate Republican-Democrat coalition is narrower, focusing solely on early retirement (see the Baumgartner amendment here). Normal […]