Grant County unemployment at 7.4 percent
Brian Thomas, human resources manager for Lowe's, helps Big Bend Community College student Fidel Cortez fill out information during the fall hiring event.
MOSES LAKE- Grant County unemployment dropped to 7.4 percent in October, a decrease of 0.2 percent compared to September, according to a state report.
The Washington State Employment Security Department reported, Grant County's preliminary unemployment rate of 7.4 percent is 0.4 percent below the unemployment rate in October 2011's 7.8 percent rate. The unemployment rate in October 2010 was at 8.2 percent.
As of October 2012, 3,250 Grant County residents were unemployed, a slight decreased from the previous month when 3.320 residents were without work. In October 2011, 3,470 people in Grant County were unemployed, according to the report.
The unemployment rate is expected to increase through January, as the agricultural season winds down, according to the report.
Washington state's overall unemployment rate is currently at 7.2 percent, according to the report. The state unemployment rate is 1.2 percentage points below the unemployment rate in October of last year.
Total employment across the state increased, while the civilian labor force dropped. Regional Labor Economist Mark Berreth stated the two opposing figures help drastically reduce the unemployment rate from last year.
Grant County's nonfarm employment peaked in 2007, according to the report. Significant drops in non-farm employment came in 2009 and 2010, but it began increasing again in 2011 showing signs of an improved economy.
The momentum in non-farm employment trailed off in July of this year, Employment levels are currently sluggish, but the area is positioned well for future growth, according to the report.
About 26,290 Grant County residents currently work in the non-farm sector. The number is down from September, when 26,390 people worked in the sector.
It is a normal seasonal pattern to see losses during this time of the year, the report stated.
About 18,450 people work in the private sector, according to October's figures.
Goods-producing industries employ 5,840 workers and service-providing industries employ 20,450 workers, including trade, transportation and utilities workers as well as information and financial activities workers.
The service-providing sector in Grant County showed improvement, compared to figures from October of last year with 20,370 people employed in October 2011. The service-providing sector statewide is showing similar growth, specifically within professional and business services along with leisure and hospitality.
The report also highlights a strong jump in consumer confidence and consumer expectations over the past two months, which indicates a positive picture for the end of 2012.
"Consumer confidence and consumer expectations are showing strong positive signs this month," said Berreth. "Other leading indicators are mixed, but having positive consumers is a great sign of improvement."