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In Washington 5,924 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 8,280 initial claims for unemployment insurance during the week ending July 3. Of this total, 5,924 initial claims were filed under the regular state unemployment insurance program; 1,905 claims were under the federal pandemic […]

In Washington 7,505 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 10,401 initial claims for unemployment insurance during the week ending June 26. Of this total, 7,505 initial claims were filed under the regular state unemployment insurance program; 1,663 claims were under the federal pandemic […]

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

Here are updates of two charts I have posted monthly regarding national income and consumer spending during the COVID-19 recession, including new numbers for May and revisions to numbers for prior months. Personal Income in May was 2.0% less than in April and 14.8% less than in March. March personal income was boosted by the […]

State revenues are now well above pre-pandemic levels

As Kriss wrote yesterday, the June 2021 revenue forecast is up substantially over the March 2021 forecast (on which the 2021–23 budget is based). (The numbers in this post are for funds subject to the outlook, or NGFO.) Through 2023–25 (the second biennium of the outlook), the forecast increased by $4.881 billion ($838 million in […]

In Washington 7,544 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 10,580 initial claims for unemployment insurance during the week ending June 19. Of this total, 7,544 initial claims were filed under the regular state unemployment insurance program; 1,581 claims were under the federal pandemic […]

Happy days continue, 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 $2.2 billion to the amount available over the remainder of the current biennium and the next biennium. Budget reports from legislative fiscal committees typically roll up four accounts: the general […]

The Economic and Revenue Forecast Council meets tomorrow

The most recent monthly report on general fund revenue collections from the state’s Economic and Revenue Forecast Council (ERFC), which was issued last Tuesday, showed revenues significantly 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 […]

New economic profile: The Economic Contribution of Washington State’s Petroleum Refining Industry in 2019

We have updated our report on the impact of Washington’s five major petroleum refiners on the state’s economy. In 2019, the refiners directly provided 2,050 full-time jobs, paying an annual average wage of $148,683. In addition, the refiners employed, at high wages, 3,643 contract workers on an average day, doing maintenance, capital repair and capital […]

In Washington 6,892 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 10,188 initial claims for unemployment insurance during the week ending June 12. Of this total, 6,892 initial claims were filed under the regular state unemployment insurance program; 1,468 claims were under the federal pandemic […]

Growth in state average annual wage is the highest ever

In 2020, the state average annual wage was $76,741—an increase of 10.1% over 2019. According to the Employment Security Department (ESD), this is the largest annual percentage growth to the average wage ever. The higher than normal increase in reported average wages can be attributed to the fact that thousands of lower-paid workers lost their […]