WA unemployment rate drops to near-record low in March

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Washington’s seasonally adjusted unemployment rate fell two-tenths of a percent in March to 4.7 percent – the lowest rate since the record low of 4.6 percent in August 2007.

According to the state Employment Security Department, Washington employers added 10,700 nonfarm jobs last month, as private sector employment increased by 11,400 and government employment decreased by 700 jobs.

The greatest job growth occurred in leisure and hospitality; education and health services; and professional and businesses services.  Gains were also reported for retail trade; transportation, warehousing, and utilities; construction; financial services; other services; information; and mining and logging.

Job numbers fell for wholesale trade; government; and manufacturing.

Year-over-year growth remains strong, as Washington has added an estimated 92,000 new jobs from March 2016 through March 2017.  The private sector grew by 3.1 percent, and the public sector increased by 2.1 percent.  (ESD)