(BRANDON HANSEN/Chewelah Independent)
The economy continues to recover even after the news of a the economy shrinking by 9.5 percent in the second quarter of 2020. The United States added 1.8 million jobs last month and unemployment dipped to 10.2 percent.
The 10.2 percent unemployment is nearing the peak that the rate was during the Great Recession.
In June, 4.8 million jobs were added to the economy showing a slowing of rehiring. In Washington, the economy showed improved signs as for the week of August 1, the state received 24,985 new or initial jobless claims which is a drop of 13.4 percent from the previous week.
New jobless claims nationally dropped 17.4 percent to 1.4 million.
While the state and national numbers of high by historical standards and the states numbers are four and and a half times higher than last year’s totals – it’s still the lowest number since mid-March when the pandemic hit.
In June, the unemployment rate in Stevens County was 9.1 percent, which was actually lower than the rate in Spokane County (9.9 percent) and King County (9.2 percent).
In Ferry County, unemployment is as 12.4 percent and Pend Oreille County has a rate of 10.9 percent.
There were 88 new jobless claims in Stevens County in the week ending in Aug. 1. This is drastically down from the end of March when the weekly jobless claim was 748.
Washington as a state has a 9.8 percent unemployment rate. Overall in June, the state added 71,000 nonfarm jobs.
Stevens County’s unemployment rate peaked at 16.4 percent in April and it’s June rate – 9.1 percent – is actually lower than the area’s later winter month rates from the past three years.
In June, the state saw 19,400 retail jobs added and 18,100 leisure and hospitality jobs. Education and health services also added 14,800 jobs.
Construction sectors grew by 8,500 jobs and professional and business services grew by 4,100.
Government jobs actually dropped by 700 while information jobs fell by 2,200.
Mining and Logging added 100 jobs… so yay for mining and logging.
Supplemental unemployment benefits from the CARES Act expired at the end of July and currently Congress is working on a new aid package to prevent the country from going into a deeper recession that economists warn could happen.