Biz week

Published 4:34 pm Friday, November 20, 2009

Jobless rate: 10.2%

Snohomish County’s jobless rate rose slightly in October to 10.2 percent, nearly a full percentage point above the state average. Seasonally adjusted, the state rate was 9.3 percent in October, up from 9.1 percent the previous month. Regional labor economist Desiree Phair of the state Employment Security Department said a slight rise in unemployment is typical for the fall months as summer employment falls off and holiday temporary positions have yet to begun. The hospitality industry and retailers were among sectors shedding jobs in October.

Orders thin in Dubai: The Boeing Co. received only a handful of orders during the Dubai Airshow, saying it was focusing more on developing relationships in the Middle East than worrying about immediate orders. Boeing announced that it had signed an agreement with Abu Dhabi’s investment vehicle to help build an aerospace industry as the area tries to diversify its economy beyond oil. In other company news, Boeing unveiled its first 747-8 Freighter with new paint job, announced that its had finished strenthening two more 787s to make them ready for tests and held a ground breaking ceremony in South Carolina for its new factory that will be used as a second line for production of the 787.

New SBA department: Everett-based Frontier Bank announced that it has a new home for Small Business Administration loans at its administrative headquarters in Everett. The move is designed to help the bank shift more toward business loans and reduce its focus on real estate loans.

Zumiez earnings: Everett-based Zumiez Inc., an action sports retailer, reported a net quarterly profit of $5.1 million for the period ending in October. Officials said sales are improving.

Mike Benbow, Herald Writer