Washington’s unemployment rate dips below national average

Washington’s unemployment rate dipped below the national average for the first time since May 2014, falling from 5.5 percent in April 2015 to 5.4 percent in May 2015, on a preliminary, seasonally adjusted basis, according to estimates by the federal Bureau of Labor Statistics. At the same time, the U.S. unemployment rate rose slightly to 5.5 percent.

Washington’s unemployment rate dipped below the national average for the first time since May 2014, falling from 5.5 percent in April 2015 to 5.4 percent in May 2015, on a preliminary, seasonally adjusted basis, according to estimates by the federal Bureau of Labor Statistics. At the same time, the U.S. unemployment rate rose slightly to 5.5 percent. Unemployment in the Seattle/Bellevue/Everett area fell to 4.1 percent.

The May Monthly Employment Report from the state Employment Security Department (ESD) estimates Washington gained 111,500 jobs from May 2014 to May 2015, on a not seasonally adjusted basis, with 100,000 new jobs in the private sector and 11,500 new jobs in the public sector.

Washington’s resident labor force held steady with more than 3.55 million people in the workforce, both employed and unemployed, over the age of 16. The number of unemployed, or those who currently do not have a job but have actively looked for work in the last four weeks, dropped from 196,500 in April 2015 to 191,000 in May 2015. ESD paid unemployment benefits to 62,315 of them.

“Continued confidence in the marketplace is resulting in more people entering the workforce but we are now seeing even fewer unemployed,” said state labor economist Paul Turek. “This is helping Washington’s unemployment rate continue to drop.”

From May 2014 to May 2015, 12 major industries saw growth and only one suffered losses. The top five industry sectors with the largest employment gains from May 2014 to May 2015, not seasonally adjusted, were:

· Professional and business services with 19,500 new jobs;

· Construction with 19,400 new jobs;

· Education and health services with 16,100 new jobs;

· Retail trade with 14,600 new jobs; and

· Government with 11,500 new jobs.

The mining and logging industry lost 400 jobs from May 2014 to May 2015.

Looking month to month, Washington gained 7,700 new jobs from April 2015 to May 2015, entirely through private sector growth. Eight sectors saw growth while five, including government, suffered losses. The top three sectors with the largest gains, on a seasonally adjusted basis, were:

· Retail trade with 2,900 new jobs;

· Education and health services with 2,200 new jobs; and

· Wholesale trade with 1,900 new jobs.

The industries with the biggest losses included government with 700 losses and other services with 600 losses.

The BLS revised April’s preliminary gain of roughly 8,200 jobs downward to a gain of 7,800 jobs.