Washington State Continues to Falter!
There was more national bad news from the US Department of Labor Friday Morning with the Obama U3 number going to 9% (that’s the percentage of the workforce collecting unemployment benefits) and the U6 number climbing to 17.8% (that’s the percentage of the workforce that is unemployed!). Even though hiring perked up some, the economy lost a net 190,000 jobs in April: NOT GOOD NEWS.
The latest numbers in Washington State has the U3 number at 9.7% or 340,330 and the U6 number at 599,963 which is the actual number of people unemployed in Washington State. Again a number of people left the workforce and gave up trying to find a job: 2,430. Snohomish County is still having a major problem with employment coming in at 10.1% for U3 and 18.4% for the U6 number. That means 70,157 people remain unemployed in SNO County.
Realtytrac’s March numbers were stunning with regard to State and County wide foreclosures. March foreclosures added 3,613 new defaults/foreclosures bringing the statewide total year to year to 35,049 foreclosures. King County led the foreclosure parade with 1,392 and Seattle was hit hard with another 490 foreclosures. For those of you who read the bogus, male bovine excrement story in Friday’s Seattle Times, I had a roll in the floor laugh at their expense: Link
Over the commercial real estate side of the fence the CBA or the Commercial Brokers Association in Washington State now has over 19,000 listings for rent, lease or sale: AN ALL TIME RECORD.
With regard to the billions in deficits that the State Legislature if fiddling around with in Olympia the Economic and Revenue Forecast Council has issued a report that is gloomy to say the least. Meaning: the state cannot count on sales tax revenue to fill up almost 6 Billion in deficits; instead they will have to cut more spending. With the idiot Democrats in control down in the SWAMP (Olympia) that does not sound like a very likely scenario.
Editor’s note: The State of Idaho business licensing department over at Coeur d'Alene has had to add more personnel to handle the increasing numbers of business in the Spokane area who are leaving the Evergreen State.
Seasonal Adjusted Numbers for those of you who read my blogs you know that these numbers that the Washington State Department of Employment Security and the US Department of Labor issue to the leftist press are nothing short of a manipulated LIE! The Seasonal adjusted numbers have no basis in reality!