Blog

September 24 , 2021 - Kriss Sjoblom

Forecast of state revenues increased

At its quarterly meeting today, the state Economic and Revenue Forecast Council (ERFC) updated its forecasts of state revenues. These new forecasts add more than $1.8 billion to the amount available over the current biennium and next bienniums. Budget reports from legislative fiscal committees typically roll up four accounts: the general fund–state, the education legacy […]


September 23 , 2021 - Kriss Sjoblom

In Washington 4,850 filed initial claims for regular unemployment insurance last week

This morning the state Employment Security Department (ESD) gave its weekly report on unemployment insurance claims. ESD reported a total of 6,496 initial claims for unemployment insurance during the week ending September 18. Of this total, 4,850 initial claims were filed under the regular state unemployment insurance program; 1,122 claims were filed under the federal […]


September 21 , 2021 - Emily Makings

Average workers’ compensation rates could go up 3.1% next year—the largest increase since 2011

Today the Department of Labor & Industries (L&I) proposed increasing average workers’ compensation rates by 3.1% for 2022. According to L&I, base rates will increase for 230 of the state’s 325 risk classes (here are the proposed rates by risk class). If the rate increase is adopted later this year, it will be the first […]


September 16 , 2021 - Kriss Sjoblom

September report on state tax collections

The most recent monthly report on general fund revenue collections from the state’s Economic and Revenue Forecast Council (ERFC), which was issued this morning, shows overall revenues above forecast. For the sales tax, the use tax, the business and occupation tax, the public utility tax, the tobacco products tax, and penalties and interest (collectively the […]


September 16 , 2021 - Kriss Sjoblom

In Washington 4,860 filed initial claims for regular unemployment insurance last week

This morning the state Employment Security Department (ESD) gave its weekly report on unemployment insurance claims. ESD reported a total of 6,640 initial claims for unemployment insurance during the week ending September 11. Of this total, 4,860 initial claims were filed under the regular state unemployment insurance program; 1,223 claims were under the federal pandemic […]


September 09 , 2021 - Kriss Sjoblom

In Washington 5,205 filed initial claims for regular unemployment insurance last week

This morning the state Employment Security Department (ESD) gave its weekly report on unemployment insurance claims. ESD reported a total of 8,125 initial claims for unemployment insurance during the week ending September 4. Of this total, 5,205 initial claims were filed under the regular state unemployment insurance program; 1,417 claims were under the federal pandemic […]


September 02 , 2021 - Kriss Sjoblom

In Washington 5,073 filed initial claims for regular unemployment insurance last week

This morning the state Employment Security Department (ESD) gave its weekly report on unemployment insurance claims. ESD reported a total of 7,193 initial claims for unemployment insurance during the week ending August 28. Of this total, 5,073 initial claims were filed under the regular state unemployment insurance program; 1,503 claims were under the federal pandemic […]


August 27 , 2021 - Kriss Sjoblom

Update on personal income, consumer spending and saving rates during the COVID-19 recession

Here are updates of charts I have posted monthly regarding national income and consumer spending during the COVID-19 recession, including new numbers for July and revisions to numbers for prior months. Personal Income in July was 1.1% greater than in June and 14.4% less than the peak reached in March, which was boosted by the […]


August 26 , 2021 - Kriss Sjoblom

In Washington 5,357 filed initial claims for regular unemployment insurance last week

Yesterday the state Employment Security Department (ESD) gave its weekly report on unemployment insurance claims. ESD reported a total of 7,440 initial claims for unemployment insurance during the week ending August 21. Of this total, 5,357 initial claims were filed under the regular state unemployment insurance program; 1,369 claims were under the federal pandemic unemployment […]


August 20 , 2021 - Emily Makings

Credit ratings, reserves, and capital gains tax revenues

Last month, the state treasurer’s office reported that Washington’s general obligation debt continues to be rated Aaa by Moody’s and AA+ by S&P and Fitch. As usual, the three agencies approvingly cite Washington’s “strong fiscal governance practices,” including the four-year balanced budget requirement and budget stabilization account (BSA, or the rainy day fund). However, S&P […]