According to the Economic and Revenue Forecast Council, the end of the recession is in sight--as early as later this year. That's good news.
However, the end of the recession only means the economy as a whole will be growing again. It will take some time before the labor market rebounds. According to the Forecast Council, the unemployment rate in Washington will rise through the third quarter of 2010 and then only drop slightly.
The green line below shows one measure of the size of the state economy--personal income (an estimate of the total income received by all Washingtonians from all sources), adjusted for inflation. The purple line shows the projected unemployment rate.
However, the end of the recession only means the economy as a whole will be growing again. It will take some time before the labor market rebounds. According to the Forecast Council, the unemployment rate in Washington will rise through the third quarter of 2010 and then only drop slightly.
The green line below shows one measure of the size of the state economy--personal income (an estimate of the total income received by all Washingtonians from all sources), adjusted for inflation. The purple line shows the projected unemployment rate.
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