According to the Efficient Market Hypothesis (EMH) pioneered by economist Eugene F. Fama, financial markets fully reflect all available information. In practice, that assumption is being tested today. 

The prolonged U.S. government shutdown has disrupted the release of key economic data such as GDP, inflation, employment, and consumer spending, forcing investors and policymakers to make decisions with blurred economic data. Meanwhile, AI-related equities are soaring, fueling debate over whether markets are efficiently pricing innovation or inadvertently creating an asset bubble.

Economic and labor market data are telling multiple stories right now: 
The labor force is tightening and it’s becoming more difficult to find a job, but the unemployment rate is remaining low. Economic uncertainty is on the rise, but the stock market continues to hit new highs. Prices continue to increase, but consumer spending is up as well.

The labor market outlook for 2026 for the state of Washington looks very challenging, if we are to believe the recent estimates from the Washington State Economic & Research Forecast Council (Council). 
While payroll employment statewide in 2024 grew by 1%, the Council looks at this year delivering a mere 0.3% annual growth. And 2026 is viewed even more conservatively. The Council expects a bump in state payroll employment of only 0.2%! In colloquial terms, that’s called treading water.

Funding for emerging companies is in a lull, but overall, the Inland Northwest’s startup ecosystem is growing, and that growth is expected to continue in 2025.