New policy brief: Revenue and Caseload Forecasts Set the Stage for Budget Writers
We have posted a new policy brief, Revenue and Caseload Forecasts Set the Stage for Budget Writers, which can be downloaded through this link.
March 27 , 2013 - Richard S. Davis
Closing skill gap expands opportunity, adds jobs, boosts economy
A new report released by the Boston Consulting Group and the Washington Roundtable identifies the benefits to state residents and employers from closing the “skills gap” – the mismatch between the jobs available and the qualifications of the workers seeking employment. Here are some highlights from the press release. See also the complete Great Jobs Within […]
March 25 , 2013 - Richard S. Davis
Seattle's job growth comes despite the city's business climate
Seattle Times columnist Danny Westneat calls Seattle’s recent employment boom an “inconvenient truth” undercutting claims that the city’s “taxes and rules and supposedly socialist groupthink” are bad for business. There’s no denying the growth in metro Seattle, but a good case can be made that it’s occuring despite the city’s business climate, not because of […]
March 22 , 2013 - Kriss Sjoblom
From tailwind to headwind Boeing announces that it will lay off 800 machinists by year end
A story (here) on the Seattle Time website says that Boeing will lay off 800 machinists by year end. With attrition "the total number of positions cut this year will be between 2,000 and 2,300." This news is not a complete surprise, as state forecasters have expected that Boeing's employment would peak this year. The […]
March 22 , 2013 - Richard S. Davis
STEM education increases opportunity, drives economy
The shortage of workers with STEM (science, technology, engineering and math) skills means that too many jobs go unfilled even as too many Washingtonians need jobs. The mismatch is the them of a good op-ed by AWB president Don Brunell in the the Bellingham Herald. Simply put, employers need people proficient in science, technology, engineering […]
March 20 , 2013 - Kriss Sjoblom
More on the revenue forecast
As I noted in an earlier post, the economic and revenue forecast council issued revised forecasts today. For the general fund-state account, the new forecasts are up $59 million for 2011-13, down $19 million for 2013-15, and down $49 million for 2015-17. For the education legacy trust account (which receives proceeds from the estate tax […]
March 20 , 2013 - Kriss Sjoblom
Chart on Washington jobs
Here is a chart comparing job losses in Washington for the 11 recessions since World War Two.
March 20 , 2013 - Kriss Sjoblom
March state revenue forecast up $59 million for 2011-13, down $19 million for 2013-15
The Economic and Revenue Forecast Council is currently meeting. The new foreast for the 2011-13 is up $59 million for 2011-13, down $19 million for 2013-15, and down $49 million for 2015-17. The handout for the meeting is available here.
March 20 , 2013 - Kriss Sjoblom
Preliminary estimate: Washington added 4,000 jobs in February
This morning the employment security department released preliminary estimates for February showing that the state added 4,000 jobs (seasonally adjusted) in February, 3,600 in the private sector and 400 in government. The preliminary estimate of the February unemployment rate is 7.5%. The estimate of the January job gain was revised upward by 100, to 24,200. […]
March 20 , 2013 - Richard S. Davis
Official state revenue forecast comes out at noon today. View with caution.
In my column today I suggest lawmakers take a cautious view of the numbers. The state, national and global economies continue to face substantial risk. A balanced budget is, of course, a priority. But With much risk beyond their control, lawmakers should be cautious in their spending and prudent in maintaining adequate budget reserves. They […]