July’s economic indicators good for Snohomish County

EVERETT — Economic indicators for Snohomish County in July were good.

The unemployment rate is lower than it was last year, but growth has been slowing down for several months, according to numbers released Thursday by the state’s Employment Security Department.

The non-seasonally adjusted unemployment rate for July 2014 was 5.3 percent, down from 6 percent for the same time period the previous year.

That change came despite an increase in the county’s labor force.

There were about 271,000 nonfarm jobs in the county last month, an increase of 900 more than July 2013.

But from June to July this year, the number of nonfarm jobs fell by 1,900.

The manufacturing sector in the county shed nearly 2,000 jobs when compared year-over-year, according to the Employment Security Department.

The sector lost an estimated 1,000 jobs from June to July this year.

Employment growth has been slowing throughout 2013 and the first months of 2014.

The county’s hotels and motels saw demand increase in July, according to Amy Spain, executive director of the Snohomish County Tourism Bureau.

Compared to the previous month, occupancy was up 3.6 percent and revenue per available room rose 14.6 percent.

Demand in July was up nearly 11 percent over the same time last year. Revenue saw an even bigger increase — 22.6 percent.

“It was a mixed result with our primary competitors this month as it relates to occupancy,” Spain said in an email.

King, Pierce and Skagit counties grew, while Spokane and Whatcom counties were down.

Dan Catchpole: 425-339-3454; dcatchpole@heraldnet.com; Twitter: @dcatchpole.

More in Herald Business Journal

Camano artist mixes flask, paintings for successful cocktail

Art flasks prove popular as bachelorette gifts, birthday presents and wedding favors.

Small retailers aim for emotional ties big chains may lack

“Put yourself into the community more and the money will come back to you.”

A look at what some stores have planned for Black Friday

With unemployment low, stores are hoping customers are in a mood to shop.

Boeing bolsters team for potential 797 with leading engineer

Terry Beezhold has been chief project engineer for the 777X program.

Uber paid off their hackers — they’re far from the only ones

“More and more companies have their own Bitcoin wallets for such cases.”

Airline defendants to pay $95 million in 9/11 settlement

The litigation claimed that security lapses led the planes to be hijacked in the Sept. 11 attacks.

Trump SoHo to shed ‘Trump’ amid reports of sagging business

The president’s company said it would have no comment beyond its news release announcing the move.

Uber reveals cover-up of hack affecting 57M riders, drivers

Uber acknowledges paying the hackers $100,000 to destroy the stolen information a year ago.

Mountlake Terrace-based 1st Security Bank wasn’t traded publicly during the recession, but it has seen a steady growth since the recession. (Jim Davis / HBJ)
How stocks in local banks fared since the recession

Every bank was hit hard during the recession, but most have bounced back in a big way.

Most Read