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In Washington 59,388 filed initial claims for unemployment insurance last week

This morning the state Employment Security Department (ESD) gave its weekly report on unemployment insurance claims. A note of caution about initial claims numbers: In May, Washington’s unemployment insurance system was hit by a rash of fraudulent claims (press release here). ESD has estimated that the value paid out for fraudulent claims is in the […]

Nationwide, 1,300,000 filed for unemployment insurance last week

The U.S. Department of Labor issued its weekly report on initial claims for unemployment insurance this morning. Nationwide, the number of seasonally adjusted claims was 1,300,000 last week. This is 10,000 less than the (downwardly revised) number of claims for the previous week, 1,310,000. The 4-week moving average of seasonally adjusted claims was 1,375,000, down […]

Initial claims by sector

Here are two charts presenting initial claims for unemployment insurance by sector in Washington state for the four-week period from June 7 to July 4. The first chart shows the number of claims by sector. The five sectors with the greatest number of claims are, in descending order, health services and social assistance; accommodation and […]

In Washington 48,471 filed initial claims for unemployment insurance last week

This morning the state Employment Security Department (ESD) gave its weekly report on unemployment insurance claims. A note of caution about initial claims numbers: In May, Washington’s unemployment insurance system was hit by a rash of fraudulent claims (press release here). ESD has estimated that the value paid out for fraudulent claims is in the […]

Nationwide, 1,314,000 filed for unemployment insurance last week

The U.S. Department of Labor issued its weekly report on initial claims for unemployment insurance this morning. Nationwide, the number of seasonally adjusted claims was 1,314,000 last week. This is 99,000 less than the (downwardly revised) number of claims for the previous week, 1,413,000. The 4-week moving average of seasonally adjusted claims was 1,437,250, down […]

Washington businesses expect to retain 906,622 jobs due to paycheck protection loans

New figures from the U.S. Treasury Department show that businesses in Washington received a total of 101,049 loans through the paycheck protection program (PPP) through June 30. The total amount loaned to Washington businesses was $12.302 billion. According to Treasury, 74 percent of small business payroll in Washington was covered by PPP loans. Treasury also […]

Ratings agencies continue to give high marks to Washington’s budget sustainability practices

The state treasurer’s office reports that Washington’s credit still has a high rating going into the new fiscal year. Washington’s general obligation bond debt continues to be rated Aaa by Moody’s and AA+ by S&P and Fitch. In making the ratings, the three agencies highlighted Washington’s strong fiscal governance, including the state’s revenue forecasting process, […]

Initial claims by sector

Here are two charts presenting initial claims for unemployment insurance by sector in Washington state for the four-week period from May 31 to June 28. The first chart shows the number of claims by sector. The five sectors with the greatest number of claims were, in descending order, health services and social assistance; accommodation and […]

Trade continued to decline in May

In May, container volumes at the Northwest Seaport Alliance (NWSA) declined by 23.8 percent over May 2019. Year-over-year volumes have now declined for nine consecutive months. According to the NWSA, through May there have been 46 canceled sailings, “driven by COVID-19 and the lingering trade dispute with China.” The Puget Sound Business Journal reports that […]

In Washington 47,792 filed initial claims for unemployment insurance last week

This morning the state Employment Security Department (ESD) gave its weekly report on unemployment insurance claims. A note of caution about initial claims numbers: In May, Washington’s unemployment insurance system was hit by a rash of fraudulent claims (press release here). ESD has estimated that the value paid out for fraudulent claims is in the […]