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King County Labor Area Summary - Jan 2020

King County Labor Area Summary - Jan 2020

by Employment Security Department on March 12, 2020

King County's unemployment rate went up in January, but no cause for alarm - this happens in January (and the unemployment rate still remains below 3 percent). Year-over-year job growth slowed somewhat compared to previous reports, but still remains strong (2.3 percent) and spread across most industries.

 

Overview             

  • In January 2020, the not seasonally adjusted unemployment rate in King County was 2.7 percent. This is up from 2.1 percent reported in December. Twelve months ago, the unemployment rate was 3.7 percent.
  • The King County labor force expanded by 2.1 percent over the year.
  • Nonfarm employment contracted by 16,600 from December 2019 to January 2020. There were an estimated 1,473,400 total nonfarm jobs in King County.
  • Three of the major industries detailed in this report added jobs and 8 shed jobs from December 2019 to January 2020 on a not seasonally adjusted basis. The largest one-month gains were attributable to information and the deepest losses were observed in retail trade.
  • Total nonfarm employment in January 2020 was 33,100 above the level observed 12 months earlier. This represents a 2.3 percent increase in employment over the year.
  • Year-to-year growth was observed in almost every major industry detailed in this report. The largest gains were observed in information, professional and business services, and leisure and hospitality.

Anneliese

Anneliese Vance-Sherman, Ph.D.

Regional Labor Economist

Employment Security Department

avancesherman@esd.wa.gov

www.esd.wa.gov/labormarketinfo

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