GPD and average weekly wage high in Seattle…
A new report by Business Insider ranks the Seattle-Tacoma-Bellevue area as having the fourth-strongest economy in the nation. The report used five criteria: unemployment rate, average weekly wage, job growth rate, gross domestic product per capita and GDP growth rate. Seattle’s 2016 GDP per capita of $86,990 was the fourth-highest among the 40 largest metro areas and in the third quarter of 2017, the average weekly wage in the city was $1,445 which is the third highest in the nation.
Seattle has also been on the top of charts for both soaring numbers of people moving to the city and housing costs.
This comes as a reflection of the overall economy in the state of Washington. According to a study by Visual Capital, a design media brand, Washington had the No. 1 ranked economy in the nation thanks to factors like strong gross domestic product growth, exports per capita, and percentage of high-tech jobs.
The strongest city economy in the country was San Jose, while the second highest was San Francisco. Austin, Texas and Denver, Colorado come in at three and five respectively.