Trends and Developments Concerning Washington Public Labor Contracts
By Jim Cline and Kate Kremer
T
his is the first of an eleven-part series addressing current economic conditions and wage settlement trends. In this Spring 2013 Wage Series, we’ll bring you an update on CPI and economic developments, wage settlements, interest arbitration trends, statewide wage rankings for public safety classifications across the State, and an in-depth analysis of what factors appear to be impacting those rankings and settlements.
By Christopher Casillas
The Washington State Employment Security Department released its monthly employment report for Feburary 2013 today, confirming that a recent trend in new jobs and a drop in the unemployment rate is no mirage, and may be gathering steam. The headline numbers indicate that the State, particularly the Seattle-Bellevue-Everett region, is seeing a strong rebound in new jobs, specifically: [Read more…]
By Christopher Casillas
The State Economic and Revenue Forecast Council released its updated March revenue report and forecast today, showing some improvements in the State’s budget for the current biennium. The revenue forecast for the current biennium has been increased by $58.8 million by the Council. This reports an improvement over the November 2012 forecast, based on an increase in likely tax collections during the current biennium. The State now predicts that revenue into its General Fund for the 2011-2013 biennium, will most likely come in at $30.536 billion. The Council noted that uncertainty remains high due to unknown economic impacts, like the federal sequestration, as well as ongoing economic crises around the globe.
