The Seattle economy is looking much more lively as we finally seem to be coming to the end of the pandemic. Seattle’s labor recovery picked up momentum last month. According to the latest data from the Bureau of Labor Statistics, the market gained 12,500 jobs in May, an increase from April, when just 7,100 new positions were added. Thanks to these job additions, Washington’s Employment Security Department reports the area’s unemployment rate has fallen to a preliminary figure of 5.1%, down from April’s revised mark of 5.3%. The national unemployment rate, by comparison, is higher at 5.8%. We are also seeing rents starting to creep back up after stagnating during the pandemic...
Seattle Industrial Market Report - Mid-Year 2020
As we closed the books on 2019 and said hello to a new decade, many experts wondered if we were approaching the end of the unprecedented economic run that was the 2010s...