1. 1 State of the state: Washington’s labor market Governor’s Distinguished Managers Association April 10, 2014 Cynthia Forland, Director, Labor Market and Performance Analysis

2. 2 Washington recovery continues  Recovered all jobs lost during the recession, but....  Recession and recovery mixed across industries.  Divergent recovery across the state.  Demand for unemployment benefits and employment services remains.  UI Trust Fund remains sound.

3. 3 Summary of key Washington labor-market indicators Washington state Total nonfarm employment, Feb 20143.02 million Year-over-year new jobs added, Feb 2013 to Feb 2014 49,800 Unemployment rate, Feb 20146.4% Employment rate, Feb 201459.4% Total unemployment-insurance claimants, 2013311,802 Average weekly benefit, 2013$387 Average weeks on regular and extended benefits, 201324.2 Average monthly benefit exhaustions, 2013 2,646 Trust fund balance, Feb 2014 $3.02B, 14.3 mos. Source: Employment Security Department/LMPA

4. 4 Nonfarm employment in Washington Source: Employment Security Department/LMPA; U.S. Bureau of Labor Statistics, Current Employment Statistics Currently up 8,100 from pre-recession peak

5. 5 Employment changes in Washington Source: Employment Security Department/LMPA; U.S. Bureau of Labor Statistics, Current Employment Statistics Recovery mixed across industries (NAICS Industry)

6. 6 Job growth and decline across state February 2013 to February 2014

7. 7 Definitions Labor force ~ Ages 16 and up, working or actively seeking work. Labor-force participation rate ~ % of a specific population that is in the labor force. Unemployment rate ~ % of labor force that is unemployed and looking for work. Employment rate ~ % of people in a specific population that are working.

8. 8 Unemployment rates Source: Employment Security Department/LMPA; U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics, Current Population Survey. U.S. recessions are shaded in gray. Unemployment easing faster in Seattle-Bellevue-Everett area

9. 9 Labor-force participation rates Source: Employment Security Department/LMPA; U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics. U.S. recessions are shaded in gray. One factor driving decline in unemployment rate

10. 10 Employment rates Employment rates have been flat since January 2009 Source: Employment Security Department/LMPA; U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics. U.S. recessions are shaded in gray.

11. 11 WorkSource Customers Source: Employment Security Department/LMPA, SKIES, Go2 and SSMS Data

12. 12 Employment rates Source: Employment Security Department/LMPA, DOL ETA 9002C

13. 13 Unemployment benefits Recipients down 70% from peak Source: Employment Security Department/LMPA; Unemployment Insurance Data Warehouse

14. 14 Benefit exhaustions Federal extensions end ̶ exhaustions spike Regular, extended and emergency benefits, combined Source: Employment Security Department/LMPA; Unemployment Insurance Data Warehouse

15. 15 Washington state UI trust fund

16. 16 Recap—recovery continues  Recovered 189,300 jobs lost during the recession.  Recession and recovery mixed across industries.  Divergent recovery across the state.  Demand for unemployment benefits and employment services remains.  UI Trust Fund remains sound.