Job Growth Continues, But Unemployment Remains HIgh
July marked another month of job growth for the state of Washington. Based on preliminary estimates, 5,700 jobs were added this month, making July the 11th consecutive month of job growth for the state, according to the July 2011 Employment Situation Report from the state’s Employment Security Division.
This 11-month growth trend is paralleled in the aerospace industry, which was one sector to see significant gains this month (1,100). All other sectors but four saw unadjusted growth this month; industries experiencing job loss were mines and logging, wholesale trade, and other services (non-health, hospitality, business, or education). Health and education services saw no change. The private sector contributed significantly to July’s employment growth, with an estimated 5,200 jobs added.
The agricultural sector also saw significant gains this month and over the year, largely due to the cherry harvest.
June’s preliminary increase of 3,600 jobs was revised up to a gain of 4,700 jobs, though its preliminary unemployment rate of 9.2 percent was adjusted to 9.3 percent. The seasonally adjusted estimate for July’s unemployment rate remained steady at 9.3 percent, though this rate is down 2 percent from the year before.
While growth in the number of jobs in Washington state is promising, this growth remains insufficient to decrease the unemployment rate. To decrease unemployment by one percentage point, the state would have to experience June’s growth for another year, said Dave Wallace last month. (Wallace is the acting chief economist at the Washington State Employment Security Division.) The number of unemployed workers in Washington state receiving benefits has decreased, but many of those decreases are due to those benefits’ expiring.
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