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City of Seattle

Job Growth

Exhibit 2.1


Exhibit 2.3

Sources: Quarterly Census of Employment of Wages, Puget Sound Regional Council; Current Employment Statistics, Bureau of Labor Statistics (March 2012); Local Area Unemployment Statistics, Bureau of Labor Statistics, Not Seasonally Adjusted (March 2012)

Key Findings

Seattle covered employment is projected to total approximately 502,000 jobs in March of 2013, which includes 403,000 private sector jobs and 83,000 public sector jobs. Private sector jobs account for 83.5% of all Seattle jobs (Ex. 2-1).

Projected citywide jobs are up 5.9% from 2011 to 2013, based on Seattle MSA job trends. The private sector is projected to have gained 28,000 jobs over this two-year period (Ex. 2-2).

Citywide covered employment declined from a recent peak in March 2008 of 497,900 to a recent low in March 2010 of 463,000, a decline of 7.4% (Ex. 2-3).

The Seattle MSA unemployment rate has not seen a month-over-month increase in 32 months (as of May 2013).

Notes:

  • (3) Covered employment is for March of the given year. Covered employment consists of employment covered by the Washington Unemployment Insurance Act, and excludes self-employed workers, proprietors, CEOs, and other non-insured workers. Typically, covered employment has represented 85-90% of total employment. City employment estimates use PSRC yearly estimates, released in June the following year.

  • (4) 2012 and 2013 Seattle employment is estimated using Seattle MSA (Seattle-Bellevue-Everett) Monthly Current Employment Statistics. Seattle MSA CES are seasonally adjusted and were obtained in June 2013 from the Washington State Employment Security Department. Projections are subject to revision.

  • (5) Unemployment rates are not seasonally adjusted for Seattle but seasonally adjusted for the Seattle MSA and Washington State.

  • Cons/Res is construction and resources; WTU is wholesale, transportation and utilities; FIRE is finance, insurance, and real estate.