Economy
Export-Import Bank Reauthorization Is Vital to Washingtons Trade Economy, Report Argues
Washington ranks as one of the nations top exporting states, with a diverse range of businesses benefiting from Ex-Im Bank support
Washington as of last year ranked as the fourth-largest exporting state based on the value of goods trailing only Texas, California and New York with some 40% of all jobs in Washington tied to trade, according to a report from the Washington Council on International Trade (WCIT). The report is part of an effort to…
Washington Residents Drowning in Credit Card Debt
The amount owed is large and rising
The median credit card debt in Washington state is $2,880, the fifth-highest in the nation. A WalletHub study using data from credit reporting agency TransUnion says it would cost $313 per month over 15 months and three days to pay off. Consumers across the country pay an average 16.91 percent interest rate. The amount of…
Seattle May Be Expensive, But Its Still a Magnet for New Residents
Housing-research platform Redfin study ranks metro areas by residents looking to make a move
Seattle ranks as the top migration destination for residents of San Francisco and Denver looking to relocate, while Sacramento and San Diego claim Seattle as the top city of origin for individuals eyeing a move to those California metros, according to a recent Redfin study. The study is based on an assessment of Refin users…
The Fastest Growing Job in Washington State is Not in Technology
The number of jobs in this sector has risen by more than 300%
They recruit workers. They help employees navigate often-complicated benefits and compensation packages. They handle office disputes. Human resources specialist jobs are the fastest-growing in Washington state, according to a study by blog Commercial Cafe. Over the past 10 years, the number of such jobs has skyrocketed a staggering 347%. Thirty-five percent of all employees in…
Washington State Adds Thousands of Jobs
Unemployment rate remains at 4.6%
Organizations throughout Washington state added 6,000 jobs in June, leading an economist for the state Employment Security Department to say that the job market continues to expand at a healthy rate. The economist, Paul Turek, added that The rise in payroll jobs over the past few months has generated more opportunities for new entrants to…
Seattle Ranks Second Nationally in Annual Housing-Affordability Gains
Improvement fueled by favorable mortgage-rate trends and increases in household income
As Seattle continues to problem-solve around the issues of the citys high cost of living and lack of affordable housing, it seems some economic winds are blowing in the right direction, with a new study showing the city ranks second nationally in year-over-year growth in home affordability as of this past April. Title insurer First…
Seattle-area freelancers earn more than ever
New study proves the world of work is dramatically changing
Freelancers in the Puget Sound region earn on average about $36,600 per year, according to a new study. Fiverr, which connects freelancers and businesses, and Rockbridge, a market research firm, analyzed tax returns from freelancers across the country. The Seattle area has almost 93,000 self-employed professionals who earned a collective $3.4 billion last year. In…
Washington Faces a $24B Bill to Avert Disaster From Future Sea-Level Rise
Seattle is expected to pay the most among Washington cities confronting a climate-change high-tide tax, study finds
The debate around climate change and its causes is often contentious, at least in political circles, particularly when the stakes are abstract. But a new study by the Center for Climate Integrity (CCI) adds a dose of reality to the debate with a ranking of states and communities based on the cost of protecting coastal…
You May Soon Be Able to Buy a House on Redfins Website
Seattle company launches pilot project
Those in the market for a house may soon be able to buy homes directly off the Redfin website. The Seattle company recently launched a pilot program in Boston called Redfin Direct, where buyers without a real estate agent can view homes listed on Redfins website. The seller of the home will pay a 2…
Average Annual Salary in Washington State is This Much
The average wage increased 5.5 percent last year
The average annual salary in Washington state last year was $65,301, an increase of 5.5 percent from 2017. The state Employment Security Department says its the largest percentage increase since 2006. Retail workers realized the biggest salary bump, with wages rising 16.9 percent. The wages of IT professionals rose 13.1 percent, while those employed in…
Women in Washington Are Better Off Than In Most States
A study analyzed 12 metrics, including economic freedom and educational achievement
Washington state ranks a lofty No. 6 in the country for womens rights, according to a study by Security.org. The state ranked particularly high for its percentage of women in Congress (No. 4), its average turnout among eligible female voters (No. 8) and life expectancy (No. 10). Security.org, a San Diego-based research analytics firm, examined…
Seattle Shines in Both Job and Pay Growth Over the Past Year
Glassdoor report ranks the metro area near the top of the pack in both measures
Seattle posted the second-highest pay growth and the third highest job growth year over year as of May among 10 of the nations largest metro areas, according a job-market report released by job and recruiting platform Glassdoor. Seattle as of May had a total of 111,591 open jobs, up 3.4% from a year earlier, ranking…
Seattle’s Creative Class Is Expanding Its Reach
Creative workers here earn a lot compared to other cities
This article appears in the June 2019 issue. Click here for a free subscription. At $30.76 per hour, Seattles creative workers enjoy one of the highest median earnings rates in the country. Creative workers include those in the arts, design, entertainment and media fields as well as software and web developers, computer programmers, photographers, writers,…