The Employment Security Department’s Monthly Employment Report was released this morning. The preliminary estimate for March puts the state’s unemployment rate at 7.3%, down from 7.5% in February. Despite this unemployment rated drop, the preliminary employment estimate shows that the state lost 5,500 jobs (seasonally adjusted) from February to March. This follows a revised gain of 5,500 jobs from January to February.

As I have frequently cautioned, initial job estimates are often substantially revised.

The ESD report is available here. Here is a chart comparing Washington job losses and recoveries in recessions since the second world war: