Unemployment across Washington has bottomed out at 9.3 percent, with Clark County surging a full point to hit a staggering 13.7 percent – the highest in the state, according to October jobless numbers released by the Employment Security Department on Tuesday.
These numbers don't necessarily reflect an economy in recession, since hiring and layoffs tend to follow well after the onset of boom and bust cycles, according to acting state economist David Wallace. When the economy begins to slip and demand goes down, it takes some time for that to translate into layoffs; the same happens with hiring during the initial stages of a recovery, Wallace said.
"Although unemployment is still rising month to month, it feels like it's stabilizing," he told reporters during a teleconference this week.
However, Wallace said he was surprised at the amount of decline in certain sectors of the economy, such as the leisure and hospitality industry, which lost 2,900 jobs in October, according to seasonally-adjusted state employment figures.
Other industries showing significant decline were manufacturing (down 2,300), retail trade (down 1,400) and aerospace products and parts manufacturing (down 700).
On the upside, the government sector had the most significant growth with 900 new jobs. The information sector gained 700 new positions, financial activities gained 600. Education and health services, as well as wholesale trade, each saw a 200 job increase.
According to the U.S. Bureau of Labor Statistics, national unemployment hit 10.2 percent in October. The national figure increases to 14.7 percent when taking into account the underemployed and so-called "discouraged workers" – groups that are not tallied in federal and state jobless numbers.
Still, with Clark County housing nearly a tenth of Washington's entire 310,984 unemployed population, the question isn't which numbers are perfect, but when the region will start adding jobs again.
