Blog

October report on state tax collections

The 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 Revenue Act […]

Value of agricultural production in Washington was $10.2 billion in 2020, up 7.2% from 2019

According to the National Agricultural Statistics Service (NASS), the value of agricultural production in Washington was $10.181 billion in 2020. That’s an increase of 7.2% over 2019. The top ten commodities in Washington in 2020 were apples, milk, wheat, potatoes, cattle, cherries, hay, hops, grapes, and eggs. The charts show the value of these commodities […]

How fast is federal relief being used?

Earlier I wrote that federal relief for Washington’s governments, businesses, and individuals now exceeds $100 billion. Some of the funding for governments is fairly flexible—for example, the coronavirus state and local fiscal recovery funds. I reviewed reporting by the most populous governments in Washington on how they are spending those funds here. Little had been […]

Federal relief funds to governments, businesses, and individuals in Washington now total over $100 billion

Federal COVID relief that has been allocated for Washington’s governments, businesses, and individuals now totals $101.7 billion. Of that, $75.4 billion has gone or will go to businesses and individuals and $26.3 billion is flowing through our state and local governments. (This money will be spent over several years. For context, state and local governments […]

In Washington 4,814 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 5,913 initial claims for unemployment insurance during the week ending October 2. Of this total, 4,814 initial claims were filed under the regular state unemployment insurance program; 724 claims were filed under the federal […]

Strong retirement system investment returns mean savings for the state, but some of those savings could be used to lower return assumptions for the future

In September, the Select Committee on Pension Policy heard from the Office of the State Actuary (OSA) about its Report on Financial Condition and its recommendations on long-term economic assumptions. High investment returns in fiscal year 2021 mean that contribution rates will be lower than previously expected. The 2021 Report on Financial Condition was released […]

Yakima County and Pierce County revenues increased in 2020

In a story this week, Washington State Wire talked to the Yakima County treasurer and Pierce County deputy finance director about how their revenues fared through the pandemic. As with state revenues, although there was a lot of uncertainty last year about how the pandemic would affect revenues, the two counties ended calendar year 2020 […]

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 August and revisions to numbers for prior months. Personal Income in August was 0.2% greater than in July and 14.2% less than the peak reached in March, which was boosted by the […]

In Washington 4,914 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 6,132 initial claims for unemployment insurance during the week ending September 25. Of this total, 4,914 initial claims were filed under the regular state unemployment insurance program; 840 claims were filed under the federal […]

Here’s a chart

The chart below shows the per capita value of the property tax base (the assessed value of property subject to tax), by county, for taxes due in 2020. Per capita, the value of property subject to property tax in San Juan County is six times as great as that in Yakima County. These numbers come […]