Published February
2003
County’s
jobless rate inches lower despite fewer jobs
By
Mike Benbow
Herald Business Editor
Snohomish County’s
jobless rate equaled the statewide average in December, a sign that our
local recession may be easing.
The monthly unemployment
rate for the county fell a tenth of a percentage point to 6.8 percent,
the state Employment Security Department reported. At the same time, the
statewide rate rose to 6.8 percent, an increase of one-tenth of a percentage
point.
“This is the first
time since last February that the Snohomish County number hasn’t come
in higher than the state number,” noted Donna Thompson, a labor economist
for the Employment Security Department. “The relatively small monthly
changes, coupled with the fact that the rate is almost the same as it
was last December, when it was 6.7 percent, may be welcome signs that
the economy is stabilizing.”
While the jobless
rate went down, the county actually lost 1,600 jobs in December, mostly
because of seasonal factors, Thompson said.
The jobless rate
can decline even if the number of jobs falls as long as a significant
number of people have moved or quit looking for work.
Winter weather and
the slow economy contributed to a loss of nearly 700 construction jobs
in December. Business services lost 300 jobs, and personnel supply lost
another 200. Boeing-related jobs declined by 100 because of continued
layoffs.
During 2002, the
county lost a total of 4,700 aircraft and parts jobs, a decline of nearly
16 percent. There are still 24,800 people working in the county’s aircraft
industry.
Locally, holiday
shoppers helped boost the retail sector by 500 jobs, but it wasn’t enough
to offset the decline in other areas.
State Employment
Commissioner Sylvia Mundy said Washington continues to lag behind the
rest of the nation.
“The December numbers
confirm the slow pace of economic recovery in Washington and the nation
in 2002,” Mundy said. “Washington’s jobless rate remained around 7 percent
throughout 2002, and the national rate has been about one percentage point
lower.”
The state unemployment
rate compares with an unchanged national rate of 6 percent and a 7 percent
rate in neighboring Oregon.
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