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Jon Talton

Analysis and commentary on economic news, trends and issues, with an emphasis on Seattle and the Northwest.

June 24, 2014 at 10:48 AM

Five years of the state’s recovery, in 10 charts

The Great Recession officially ended in June 2009, 18 months after it began. Here’s a snapshot of how Washington has performed in 10 key areas:

Output as measured by state gross domestic product rebounded easily and has reached new records (the data go to 2013)…

RealGDPfredgraph

…On a per-capita basis, Washington continues to outperform the nation…

GDPpercapfredgraph

…The official unemployment rate has fallen but remains high for this far into a recovery…

Unempfredgraph

…The rate has fallen further in King County…

KingUnemp

…But as is happening nationally, the civilian labor force has declined, partly because of retirements, partly because of continued low demand…

CIVfredgraph

…And the year-over-year growth of non-farm jobs has been sluggish and weaker than previous recoveries…

Payrollsfredgraph

…The overhang of the housing crash continues, with housing permits below not just the boom, but historical trends…

Housingfredgraph

…Real median household income is below its pre-recession highs, but doing much better than the national stat (these take us only to 2012)…

Incomefredgraph

…Meanwhile, in the aftermath of the worst banking crisis in 70 years, the state lost 30 banks in the recovery…

Banksfredgraph

…And although people continue to move here, they are doing so at a much slower rate, reflecting national trends (again, the data don’t take us completely through the recovery).

POPfredgraph

Tuesday Reading: (Seattle, take note) How Denver is becoming the most advanced transit city in the West | CityLab

Today’s Econ Haiku:

The airplanes down South

Ain’t made by them union thugs

Thugs fix Boeing’s mess

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