Unemployment rate drops 1% in Washington state this October
Recent data suggests unemployment rates are leveling out between September and October.
OLYMPIA, Wash. — Unemployment rates skyrocketed earlier this year due to COVID-19, but Washington state may be trending in the right direction.
According to recent statistics from the Washington Employment Security Department (ESD), unemployment rates dropped one percent from September to October. The seasonally-adjusted, revised unemployment rate of 7.9 percent in September fell to 6.9 percent last month. The total of 326,000 unemployed individuals in September is down to just 238,600 people in October.
Be advised that these rates are updated in subsequent months with more information readily available. However, this is a good sign for one of the states that got hit hardest at the start of this pandemic.
Despite the positive data to this point, these statistics will need to adjust. As Gov. Jay Inslee continues applying new and reoccurring restrictions on business, more Washingtonians will likely apply for unemployment in November.
According to the report, three industries have seen an uptick in employment: Retail trade, information and construction. Inversely, the industries that have been hit the hardest are leisure/hospitality, government and manufacturing. The data suggests that 173,200 jobs have been lost since this time last year.
All statistics in the report have been gathered by officials at the U.S. Bureau of Labor Statistics.