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Washington’s unemployment rate fell to 3.6% in September 2023, lower than the national average of 4.2%. The Seattle/Bellevue/Everett area with an unemployment rate of 3.2%. The construction industry added 3,400 jobs in a year, reaching a total of 240,300 statewide.

MBAKS Housing Solutions Breakfast emphasizes the importance of timely and predictable permit review processes with Senator Mullet and a panel of local elected and public officials.

Each election cycle, our Affordable Housing Council (AHC) interviews candidates at the city, county, and state levels to determine their degree of support for our industry. The following candidates have received an AHC endorsement for the 2023 election cycle.

In the Seattle Metro Area, the building permit data for the year-to-date period ending on August 31, 2023, paints a distinctive picture of the region's construction activity. The statistics show a notable slowdown in both single-family and multifamily construction projects.

In July 2023, the unemployment rate in Washington stood at a healthy 3.6%, while the Seattle/Bellevue/Everett metropolitan area boasted an even lower rate of 3.1%. Notably, the construction sector in the state experienced growth over the past year, adding 4,500 jobs between July 2022 and July 2023. With a total statewide construction employment of 240,900, these figures reflect a positive trend in Washington's labor market and its continued commitment to economic development.

King County recorded a 1.5 months' supply of housing inventory as of June 2023, indicating a slight increase from the 1.34 months' supply reported in June 2022. Similarly, Snohomish County saw its inventory supply rise to 1.07 months, up from 1.34 months a year earlier. Despite the increase, the current supply falls notably short of a healthy level.

The April 2023 population estimates have been released, highlighting a 1.1% growth since April 2022 in Washington. According to estimates from the Office of Financial Management, Washington's total population has surpassed 7.9 million residents, with a total of 4,437,100 just in the Puget Sound region. King County has witnessed the largest influx, with an addition of 30,100 individuals since last April. Snohomish County follows closely with a growth of 12,500 over the same time period.