Unemployment fell to 5.5 percent in April, a drop of more than 20 percent from the adjusted 6.9 percent level posted a year ago, according to figures released Tuesday by the Washington Unemployment Security Department.
The Tri-City economy typically begins to heat up in the spring, but April’s performance was unusually strong. It was nearly a full percentage point lower than March and represents the lowest unemployment rate for the past four Aprils.
That’s good news for workers, said Ajsa Suljic, regional labor economist.
“People who were unemployed are finding jobs and getting employed,” she said.
Washington’s unemployment rate fell to 4.3 percent, fueled by continuing low unemployment in the Seattle metro area, where the rate has remained below 5 percent for three years. It dropped to 2.9 percent in April.
Economists traditionally have considered a 5 percent unemployment rate as healthy sign of an economy balanced between the interests of both workers and employers.
When
you’re in a tight workforce market, then the first question out of
people’s mouths is, ‘Where am I going to find employees?’
Carl Adrian, Tri-City Development Council
Carl
Adrian, president of the Tri-City Development Council, takes the notion
of full employment with a grain a salt, but said 5.5 percent is a good
sign of growth for the Tri-Cities. Carl Adrian, Tri-City Development Council
Still, it can make business recruitment more challenging. Prospective employers like to draw from large pools.
“When you’re in a tight workforce market, then the first question out of people’s mouths is, ‘Where am I going to find employees?’ When you’re in the 6 or 7 percent range, they don’t ask that question,” he said. “It’s a double-edged sword.”
Suljic echoed said the dropping unemployment rate can pose a problem for employers.
“It creates challenges in upfilling and backfilling,” she said.
The civilian labor force grew to 133,812 workers in April, a 1 percent increase over the year prior.
Major year-to-year job gains were posted in the services industry (1,000), construction (600) and education/health services (500).
Unemployment elsewhere: Spokane, 5.5 percent; Walla Walla, 4.6 percent; Moses Lake, 6 percent; Yakima, 6.8 percent.
