Washington’s economy added an estimated 5,300 jobs (seasonally adjusted) and the monthly unemployment rate rose from 4.7% in February to 4.8% in March.
Last month’s unemployment rate is the highest recorded rate since 2021, surpassing the previous high mark set in February. It also marked the sixth consecutive month of increasing unemployment rates in Washington.
The state’s unemployment rate has been slowly increasing since September 2023, when it was 3.6%.
Job growth is still trending up. But overall growth has slowed in recent months as net employment continues to increase in some industries and decrease in others.
“Even though Washington employers added jobs for two consecutive months, the overall trend of job growth has been declining over time,” said Anneliese Vance-Sherman, chief regional economist for the Washington State Employment Security Department.
Employment Security paid unemployment insurance benefits to 72,162 people in March, a decrease of 1,478 paid claims over the previous month. Decreases in paid claims in the following industries contributed to the overall decrease in claims over the month:
- Construction.
- Administrative and support.
- Waste management and remediation services.
Visit Employment Security’s website to view the entire Monthly Employment Report for March 2024.
Updated state preliminary data for February 2024
- The preliminary estimated gain of 2,600 jobs was revised to a gain of 3,900 jobs.
- The seasonally adjusted monthly unemployment rate was confirmed at 4.7%.
National unemployment rate
The national unemployment rate fell to 3.8% in March from 3.9% in February. For comparison, the national unemployment rate (revised) for March 2023 was 3.5%.
Labor force showed little change
From February to March 2024, the number of people who were unemployed statewide increased from 190,070 to 193,580. In the Seattle/Bellevue/Everett region, the number of people who were unemployed increased from 71,629 to 73,417 over the same period.
The state’s labor force in March was 3,640,500 – an increase of 5,300 people from the previous month. In the Seattle/Bellevue/Everett region, the labor force decreased by 4,850 people during the same period.
Labor force is defined as the total number of people, both employed and unemployed, over the age of 16. Layoffs and labor force participation are not necessarily connected. When people are laid off but still seeking work, they remain a part of the labor force. A drop in the labor force means people have left work and haven’t been actively seeking employment for more than four weeks.
Eight major industry sectors expanded, four contracted and one stayed the same from February to March
Private sector employment increased by 2,900 jobs from February to March. Government employment also increased by 2,400 jobs.
The largest sector-level gains in private industry were in professional and business services (up 2,700 jobs), and wholesale trade (up 1,800 jobs).
The deepest losses came from other services (down 2,300 jobs), including losses in membership associations and organizations (down 1,000 jobs).
The largest gains in the professional and business services sector were made in professional, scientific and technical services (up 2,300 jobs), especially in computer systems design and related services (up 800 jobs).
Mining and logging had no change in jobs from February to March.
Annual employment growth appears in government, and education and health services
Washington gained an estimated 57,800 jobs from March 2023 to March 2024 (not seasonally adjusted). During that time, private sector employment rose 1.2% to an estimated 34,200 jobs, while public sector employment grew 4.1% to an estimated 23,600 jobs.
The three industry sectors with the largest employment gains year over year (not seasonally adjusted) were:
- Government, up 23,600 jobs.
- Education and health services, up 23,000 jobs.
- Leisure and hospitality, up 10,400 jobs.
The three industry sectors with the largest employment losses year over year (not seasonally adjusted) were:
- Information, down 8,300 jobs.
- Construction, down 7,500 jobs.
- Retail trade, down 4,300 jobs.
Table 1: Washington’s total jobs
| Month | Total jobs (losses or gains) | Unemployment rate | Previous year’s unemployment rate |
| March 2024 | +5,300 | 4.8% | 4.5% |
| February 2024 | +2,600 | 4.7% | 4.6% |
| January 2024 | -2,700* | 4.6%* | 4.6% |
| December 2023 | +15,200* | 4.2%* | 4.5% |
| November 2023 | +300* | 4.0%* | 4.6% |
| October 2023 | +3,100* | 3.8%* | 4.6% |
| September 2023 | +4,900* | 3.6%* | 4.4% |
| August 2023 | +2,500* | 3.6%* | 4.3% |
| July 2023 | -6,300* | 3.6%* | 4.1% |
| June 2023 | +17,300* | 3.8%* | 3.9% |
| May 2023 | +3,800* | 4.1%* | 3.9% |
| April 2023 | +7,700* | 4.3%* | 3.9% |
| March 2023 | +1,000* | 4.5%* | 3.9% |
| February 2023 | +7,600* | 4.6%* | 4.0% |
| January 2023 | +4,200* | 4.6%* | 4.0% |
| December 2022 | +10,400* | 4.5%* | 4.1% |
| November 2022 | -700* | 4.6%* | 4.3% |
| October 2022 | -1,500* | 4.6%* | 4.5% |
| September 2022 | -4,200* | 4.4%* | 4.8% |
| August 2022 | +15,000* | 4.3%* | 5.0% |
| July 2022 | +40,400* | 4.1%* | 5.1% |
| June 2022 | +4,500* | 3.9%* | 5.3% |
| May 2022 | +1,400* | 3.9%* | 5.4% |
| April 2022 | +5,900* | 3.9%* | 5.7% |
| March 2022 | +9,400* | 3.9%* | 5.9% |
*Revised from previous preliminary estimates. Preliminary monthly estimates for job losses or gains are based on a small Bureau of Labor Statistics payroll survey. Actual figures reported the following month are based on a more complete survey.
Table 2: March job gains and losses by industry
| Industry sector | Job gains, losses |
| Professional and business services | 2,700 |
| Government | 2,400 |
| Wholesale trade | 1,800 |
| Financial activities | 1,400 |
| Education and health services | 1,200 |
| Retail trade | 800 |
| Transportation, warehousing and utilities | 600 |
| Manufacturing | 300 |
| Mining and logging | 0 |
| Information | -1,000 |
| Construction | -1,200 |
| Leisure and hospitality | -1,400 |
| Other services | -2,300 |
Labor market information
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