March 2013 Employment and Unemployment Trends for Spokane County MSA
April 24, 2013 Leave a comment
Total non-farm jobs decreased during March. Looking at the data from 2007 to 2013, the only other year employment went down between February to March was 2009, as the U.S. entered a deep and long lasting recession. Hopefully this downturn in employment is a fluke that will shortly reverse.
The unemployment rate went down from February to March. A drop was expected although this preliminary unemployment estimate is sharper than I expected. The unemployment rate refers to the percentage of the labor force that is unemployed and looking for work and the rate often tracks off in its world. I primarily focus on the total number of non-farm jobs – in other words, how many people are actually working. People who are working and creating things and delivering services are what makes the economy move forward.
With Spokane County at 9.1%, King County has fallen to 5.5%.