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.
'It's not what you earn. It's what you keep.†That advice from my mother about saving has been ringing in my ears lately as I look at Spokane earnings data. In 2022, we didn't 'keep†as much as before. And it's not necessarily due to
In a Journal column earlier this year, I touched on what appears to be most pressing issue for the Spokane and regional economy: the supply of workers.
Expanding the workforce depends on population gains and the size of the labor force participation
Sometimes simple concepts explain a lot. So it is with the labor force participation rate. In light of its recent trend in Spokane County, it's smart to pay attention to this measure of economic health.
Workforce availability is often the first
If population gain is a contest, Spokane County won the state sweepstakes over the past 12 months, according to 2022 estimates released at the end of June by the Washington state Office of Financial Management.
What a difference a year makes. In May 2020, U.S. employment had slipped over 25 million from its February 2020 peak. The nation was lurching toward the largest quarterly drop in gross domestic product in history with a 32% decline. Washington state's
Ever thought it's those out-of-towners who have driven up housing prices here recently? You probably aren't alone.
After all, the median house price for resale has climbed from approximately $284,000 to $330,000 over the past four quarters.