Blog

Economic Assumption Changes for WA's Retirement Systems

Yesterday the Pension Funding Council met and agreed to make changes to the economic assumptions of state retirement systems, including lowering the investment return assumption from 8 percent to 7.9 percent for the 2013–15 biennium.  Additional reductions in later biennia were not agreed to at this time. At the end of August, the Office of […]

WRC Policy Briefs on Ballot Measures

Ballots are in the mail for the general election.  In case you missed any of them, here are our policy briefs on the ballot measures: Initiative 1183 Would Produce Revenue Gains for State and Local Governments State Analysts and WRC Agree: I-1183 Generates Positive State/Local Revenues I-1125: Jamming Transportation Planning I-1163: Once, Twice, Still Not […]

Preliminary September Employment Estimates Showing Washington Lost 18,400 Jobs Last Month Are Likely To Be Revised

The state Employment Security Department released preliminary estimates of September Employment this morning. These estimates show that the state lost 18,400 jobs (seasonally adjusted) from August to September; 7,600 of the lost jobs were in the private sector, and 10,800 were in the government sector. Preliminary job estimates are, on occasion, substantially revised when more […]

Foie Gras Tourism: Economic Development Opportunity?

According to an artcle in today's New York Times, Californian's are bingeing of foie gras in advance of the ban scheduled to become effective in July 2012.  Perhaps this ban will provide a tourism opportunity for Washington State, complimentary to our promotion of wine tourism. Foie gras tourism, of course, would be an even more […]

Boom and Bust

The top story in Stateline today is all about Washington: “Boeing and Microsoft boom, but Washington State busts.”  It’s a downer of a story, which will be no surprise to anyone that’s been paying attention to the state budget over the last few years. The article says that Washington’s budget problems stand out from those […]

Washington State at the Top in STEM-Related Jobs

Data developed by the consultancy Economic Modeling Specialists, Inc. show that in 2011 Washington State had the highest concentration of jobs in STEM (science, technology, engineering and mathematics) occupations among the 50 states, lagging only the District of Columbia. In Washington, 11.5 percent of net jobs added between 2001 and 2011 were STEM-related. For the […]

Monthly State Revenue Collections Exceed Forecast by $10.6 million

The Economic and Revenue Forecast Council issued its monthly Economic and Revenue Update today. For the September 11 to October 10 collection period, collections exceeded the forecast by $10.6 million (1.1%). Quoting the Update's summary: The U.S. economy did not worsen in the last month, but the outlook remains extremely uncertain. The Washington economy is […]

New Brief: I-1163: Once, Twice, Still Not a Priority

We have taken a look at Initiative 1163, and the resulting policy brief is here. I-1163 would essentially make the state implement training and background check requirements for long-term care workers (which were approved by voters in 2008) this biennium.  The program never had a dedicated source of funding, and the legislature has never implemented […]

From the Auditor: An Inventory of State Regulations

The state auditor’s office is undergoing a series of audits “to determine whether Washington’s business regulations are streamlined, transparent and consistent.” Today, they released an inventory of all state regulations, by agency.  There is an Excel spreadsheet for each agency showing licenses, permits and inspections required by each.  The information includes the purpose of license/permit/inspection, […]

New Brief: I-1125: Jamming Transportation Planning

We have a new brief today on Initiative 1125, which would affect tolling and transportation policy in Washington. The initiative would forbid the transfer of revenues in the motor vehicle fund or any toll fund to the general fund; require that lanes funded by the gas tax or tolls be used for highway purposes; require […]