"Buyer's market" for job hunters as state unemployment rate dips

Washington's unemployment rate edged down to 5.2 percent in August, prompting the state's top employment official Tuesday to call it "a buyer's market" for jobseekers.

The seasonally adjusted jobless rate has been holding fairly steady for months. The August number was a tenth of a percentage point below the previous month and 0.4 percentage point below a year ago.

In the Seattle-Bellevue-Everett area, the seasonally adjusted jobless rate was unchanged at 4.2 percent.

King County's unemployment rate, not seasonally adjusted, was 3.9 in August, down from 4.0 percent in July, while in Snohomish County, it was 4.1 percent, down from 4.2.

Employers added 2,400 nonfarm jobs statewide during August, paced by new hiring in the service economy.

"It's really a buyer's market for people who want to work in Washington," said Employment Security Commissioner Karen Lee. "Whether someone is interested in working at the local mall or wants a career in nursing, there are plenty of jobs out there, and new jobs are being added all the time."

August's job growth came on the heels of 7,200 new hires the previous month. The numbers were even stronger earlier in the year.

"Aside from the monthly dips and wiggles, employment growth has been slower in the spring and summer after stronger gains in the winter months," the department's report said.

The national numbers have followed a similar pace of robust growth followed by slower growth, the agency said. The national unemployment rate was 4.7 percent for August.

Over the past year, 74,000 nonfarm jobs have been created in Washington state. About 172,800 people remain unemployed.

Last month, the services sector increased by 2,900 jobs, wholesale-trade payrolls by 1,000, retailing by 500, restaurants by 300, manufacturing by 100, education and health services by 1,100 and government employment by 900.

Construction companies shed about 500 jobs.