Initial Monthly Estimates of Washington Employment Are Subject to Error
The state’s Employment Security Department (ESD) releases monthly estimates of the number of nonfarm jobs in the state. (The schedule for this year’s releases is here.) These estimates are prepared in conjunction with the federal Bureau of Labor Statistics (BLS) Current Employment Statistics program (CES). By their nature, these survey-based estimates are subject to considerable […]
March 15 , 2012 - Kriss Sjoblom
Initial Claims for Unemployment Insurance Down
Unemployment insurance claims data are released every Thursday. This week’s report was a good one: Nationally, the seasonally adjusted number of initial claims fell by 14,000 to 351,000, while the four-week moving average was unchanged at 355,750. The U.S. Department of Labor (DOL) press release is here. Calculate Risk has charts here. The numbers for […]
March 12 , 2012 - Kriss Sjoblom
February 11 – March 10 state revenue collections were $7.7 million less than forecast
The monthly collections report is out today. The headline number is not too bad: “Major General Fund-State revenue collections for the February 11 – March 10, 2012 collection period were $7.7 million … lower than the February forecast." However, the underlying detail is weaker than the headline: "Revenue Act collections for the current period came […]
March 07 , 2012 - Richard S. Davis
Budget negotiations must include Senate Rs, centrists
That’s the thrust of my column this morning. While Democrats may want to ignore the Friday vote, the bipartisan coalition that passed the Senate budget must be included in the final resolution. For those of us for whom sustainability is a top priority, the Senate budget sets the state on the right path. …Reconciling the […]
March 06 , 2012 - Richard S. Davis
Billions of dollars in new taxes if preferences are repealed
HB 2762, the subject of an earlier blog post today, would repeal tax preferences worth $3.7 billion in the current biennium. Small businesses, farms, corporations, nonprofits, churches, transit agencies, cities and counties … too many groups to list here .. would all face tax increases. For some, the increases are fivefold. See this 8-page list for scheduled repeal […]
March 06 , 2012 - Richard S. Davis
Bill to repeal tax preferences threatens jobs and investment
In the closing days of the legislative session, a HB 2762, a bill “to periodically expire all nonconstitutionally required tax preferences that are not already subject to expiration” may be getting new life. It passed out of House Ways and Means Committee March 3, on a party-line vote. What “to periodically expire” means is that on […]
March 01 , 2012 - Richard S. Davis
New report by Tax Foundation: WA taxes are a mixed bag for business
Businesses differ in their response to state tax policy. Mature firms may face different tax challenges than do start-ups. Manufacturers, retailers, and R&D firms also have varying concerns when it comes to the way state taxes affect them. A new study by the Tax Foundation offers new guidance to business owners and policymakers who want […]
February 29 , 2012 - Kriss Sjoblom
ESD Reports Washington Added 13,200 jobs In January: This Number Is Likely To Be Revised Downward
The Employment Security Department reported today that the state added an unbelievably large 13,200 jobs in January. The models used to estimate jobs are subject to a significant amount of error, especially for the initial estimate. The magnitude for potential error is documented by the revisions made to the estimates for December employment and for […]
February 20 , 2012 - Emily Makings
Washington Union Membership, 2011
In January, the Bureau of Labor Statistics (BLS) released its 2011 Union Members Survey, which Dick wrote about here. Briefly, BLS found that union membership was 11.8 percent nationally, with a public-sector union membership rate of 37.0 percent and a private-sector membership rate of 6.9 percent. Using BLS data, Professors Barry Hirsch (Georgia State University) […]
February 16 , 2012 - Kriss Sjoblom
Revision to state revenue forecast adds $95.7 million for 2011-13 biennium
The headline number for today's revision to the state general fund revenue forecast is a gain of $95.7 million, taking expected revenues for the 2011-13 biennium to $30.284 billion. However, $50.6 million of the $95.7 gain is due to actions taken in the December 2011 special session of the legislature allowing unclaimed property seized by […]