economic forecast calendar year summary tables · washington state economic and revenue forecast...

Washington State Economic and Revenue Forecast Council ◊ 360-534-1560 ◊ www.erfc.wa.gov

ECONOMIC FORECAST

Calendar Year Summary Tables

Preliminary

May 27, 2020

http://www.erfc.wa.gov/

http://www.erfc.wa.gov/

This page left intentionally blank.

Table A1.1U.S. Economic Forecast SummaryForecast 2020 to 2025

2018 2019 2020 2021 2022 2023 2024 2025

Real National Income Accounts (Billions of Chained 2012 Dollars)

Real Gross Domestic Product 18,638.2 19,073.1 17,970.0 18,680.9 19,455.8 20,218.9 20,890.3 21,479.7 % Ch 2.9 2.3 -5.8 4.0 4.1 3.9 3.3 2.8 Real Consumption 12,944.5 13,280.1 12,448.4 13,002.9 13,581.6 14,141.9 14,670.1 15,069.1

% Ch 3.0 2.6 -6.3 4.5 4.5 4.1 3.7 2.7 Real Nonresidential Fixed Investment 2,692.3 2,748.1 2,447.8 2,466.8 2,586.3 2,712.7 2,852.5 2,993.2

% Ch 6.4 2.1 -10.9 0.8 4.8 4.9 5.2 4.9 Real Residential Fixed Investment 602.9 593.8 528.2 544.7 594.8 596.9 597.7 599.1

% Ch -1.5 -1.5 -11.0 3.1 9.2 0.4 0.1 0.2Real Personal Income 16,476.8 16,963.6 16,986.9 17,143.7 17,552.3 18,143.7 18,749.3 19,323.3

% Ch 3.4 3.0 0.1 0.9 2.4 3.4 3.3 3.1Real Per Capita Income ($/Person) 50,277 51,397 51,104 51,215 52,074 53,464 54,880 56,190

% Ch 2.8 2.2 -0.6 0.2 1.7 2.7 2.6 2.4

Price and Wage Indexes

PCE Price Index (2012=100) 108.1 109.7 110.8 112.0 112.9 113.7 114.8 116.6 % Ch 2.1 1.4 1.0 1.1 0.9 0.6 1.0 1.6

U.S. Consumer Price Index (1982-84=1.0) 2.511 2.557 2.590 2.633 2.666 2.687 2.722 2.773 % Ch 2.4 1.8 1.3 1.7 1.3 0.8 1.3 1.9

Employment Cost Index (Dec. 2005=1.0) 1.334 1.374 1.411 1.433 1.468 1.501 1.534 1.575 % Ch 3.1 3.0 2.7 1.6 2.4 2.3 2.2 2.6

Current Dollar National Income (Billions of Dollars)

Gross Domestic Product 20,580.2 21,427.7 20,383.1 21,390.9 22,439.9 23,504.1 24,540.1 25,618.5 % Ch 5.4 4.1 -4.9 4.9 4.9 4.7 4.4 4.4

Personal Income 17,819.2 18,602.3 18,815.3 19,198.9 19,824.7 20,622.5 21,532.6 22,540.4 % Ch 5.6 4.4 1.1 2.0 3.3 4.0 4.4 4.7

Employment (Millions)

U.S. Civilian Labor Force 162.1 163.5 156.5 160.0 163.4 165.5 167.0 168.4 Total U.S. Employment 155.8 157.5 134.2 139.2 148.6 155.2 159.4 162.3 Unemployment Rate (%) 3.89 3.66 14.48 13.02 9.32 6.57 4.80 3.72

Nonfarm Payroll Employment 148.89 150.94 131.41 137.15 146.45 152.77 157.78 161.40 % Ch 1.6 1.4 -12.9 4.4 6.8 4.3 3.3 2.3 Manufacturing 12.69 12.84 10.89 11.48 12.17 12.43 12.81 13.09

% Ch 2.0 1.2 -15.1 5.4 6.0 2.1 3.0 2.2 Durable Manufacturing 7.95 8.06 6.62 6.77 7.22 7.45 7.78 8.05

% Ch 2.7 1.4 -17.8 2.3 6.7 3.1 4.4 3.5 Nondurable Manufacturing 4.74 4.78 4.27 4.71 4.95 4.98 5.03 5.03

% Ch 0.9 0.8 -10.6 10.2 5.1 0.7 1.0 0.1 Construction 7.29 7.49 6.69 6.40 6.89 7.12 7.32 7.50

% Ch 4.6 2.9 -10.8 -4.2 7.6 3.4 2.8 2.5 Service-Providing 128.19 129.87 113.26 118.86 126.96 132.76 137.20 140.34

% Ch 1.3 1.3 -12.8 4.9 6.8 4.6 3.3 2.3

Miscellaneous Indicators

Oil-WTI ($ per barrel) 64.9 57.0 35.2 36.7 39.2 41.4 43.5 45.6Personal Saving/Disposable Income (%) 7.7 7.9 16.4 13.0 10.2 8.8 8.1 8.4Auto Sales (Millions) 5.3 4.7 3.0 3.2 3.5 3.5 3.5 3.5

% Ch -12.8 -11.3 -36.5 8.7 6.5 1.5 0.7 -0.3Housing Starts (Millions) 1.250 1.298 1.127 1.251 1.302 1.273 1.240 1.258

% Ch 3.4 3.9 -13.1 11.0 4.1 -2.3 -2.5 1.4Federal Budget Surplus (Billions) -1,009.8 -1,192.0 -3,287.6 -2,350.8 -1,797.5 -1,450.3 -1,280.4 -1,262.3Net Exports (Billions) -638.2 -631.9 -401.5 -633.4 -763.5 -654.3 -648.3 -619.1

3-Month Treasury Bill Rate (%) 1.94 2.06 0.42 0.05 0.08 0.07 0.13 0.1710-Year Treasury Note Yield (%) 2.91 2.14 0.94 0.63 0.80 1.09 1.47 1.83Bond Index of 20 G.O. Munis. (%) 3.96 3.60 3.87 3.73 3.53 3.52 3.58 3.7530-Year Fixed Mortgage Rate (%) 4.54 3.94 3.34 2.99 2.90 3.01 3.24 3.43

Page 1

Table A1.2U.S. Economic Forecast SummaryForecast 2020 to 2025

2020:1 2020:2 2020:3 2020:4 2021:1 2021:2 2021:3 2021:4Real National Income Accounts (Billions of Chained 2012 Dollars)

Real Gross Domestic Product 18,987.9 17,198.3 17,658.5 18,035.3 18,353.4 18,601.5 18,803.2 18,965.6 % Ch , Annual Rate -4.8 -32.7 11.1 8.8 7.2 5.5 4.4 3.5 Real Consumption 13,153.0 11,797.5 12,267.8 12,575.4 12,763.0 12,938.1 13,090.7 13,219.7

% Ch , Annual Rate -7.6 -35.3 16.9 10.4 6.1 5.6 4.8 4.0 Real Nonresidential Fixed Investment 2,664.9 2,369.2 2,319.6 2,437.3 2,424.6 2,437.9 2,481.4 2,523.2

% Ch , Annual Rate -8.6 -37.5 -8.1 21.9 -2.1 2.2 7.3 6.9 Real Residential Fixed Investment 632.6 504.0 484.2 492.1 502.1 530.3 561.2 585.2

% Ch , Annual Rate 21.0 -59.7 -14.8 6.7 8.4 24.4 25.4 18.2Real Personal Income 17,092.4 16,734.3 17,174.5 16,946.6 16,962.5 17,126.4 17,216.6 17,269.2

% Ch , Annual Rate 0.7 -8.1 10.9 -5.2 0.4 3.9 2.1 1.2Real Per Capita Income ($/Person) 51,558 50,388 51,623 50,848 50,807 51,208 51,388 51,456

% Ch , Annual Rate 0.0 -8.8 10.2 -5.9 -0.3 3.2 1.4 0.5


PCE Price Index (2012=100) 110.7 110.4 110.8 111.1 111.5 111.9 112.1 112.4 % Ch , Annual Rate 1.3 -0.9 1.5 1.2 1.5 1.3 0.8 0.8

U.S. Consumer Price Index (1982-84=1.0) 2.586 2.577 2.592 2.604 2.618 2.630 2.638 2.645 % Ch , Annual Rate 1.2 -1.3 2.2 1.9 2.2 1.9 1.1 1.1

Employment Cost Index (Dec. 2005=1.0) 1.403 1.409 1.414 1.419 1.423 1.429 1.436 1.445 % Ch , Annual Rate 4.1 1.8 1.4 1.3 1.3 1.7 2.0 2.4


Gross Domestic Product 21,537.9 19,439.5 20,041.2 20,513.8 20,924.6 21,270.8 21,563.1 21,805.2 % Ch , Annual Rate -3.5 -33.6 13.0 9.8 8.3 6.8 5.6 4.6

Personal Income 18,916.2 18,477.2 19,032.6 18,835.0 18,921.2 19,166.7 19,305.0 19,403.0 % Ch , Annual Rate 2.0 -9.0 12.6 -4.1 1.8 5.3 2.9 2.0



Nonfarm Payroll Employment 152.08 124.78 122.34 126.45 131.85 136.22 139.19 141.35 % Ch , Annual Rate 0.8 -54.7 -7.6 14.1 18.2 13.9 9.0 6.4 Manufacturing 12.84 11.02 9.58 10.14 10.87 11.54 11.52 11.99

% Ch , Annual Rate -0.3 -45.8 -42.8 25.6 31.7 27.3 -0.9 17.7 Durable Manufacturing 8.05 6.76 5.62 6.06 6.43 6.88 6.70 7.08

% Ch , Annual Rate 0.0 -50.2 -52.3 35.3 26.5 31.4 -10.0 24.8 Nondurable Manufacturing 4.79 4.25 3.96 4.08 4.44 4.66 4.81 4.91

% Ch , Annual Rate -0.9 -37.7 -24.8 12.8 39.8 21.5 13.8 8.4 Construction 7.61 6.57 6.34 6.23 6.24 6.30 6.47 6.61

% Ch , Annual Rate 3.6 -44.5 -13.6 -6.5 0.6 3.8 11.3 9.3 Service-Providing 130.91 106.58 105.91 109.64 114.33 117.98 120.80 122.33

% Ch , Annual Rate 0.7 -56.1 -2.5 14.8 18.3 13.4 9.9 5.2+Miscellaneous Indicators


% Ch , Annual Rate -42.9 -84.2 49.6 70.3 4.6 21.8 7.6 9.5Housing Starts (Millions) 1.466 0.959 0.975 1.109 1.222 1.234 1.265 1.284

% Ch , Annual Rate 7.3 -81.7 7.0 67.6 47.4 3.8 10.4 6.3Federal Budget Surplus (Billions) -1,343.5 -4,061.3 -4,548.2 -3,197.5 -2,655.3 -2,439.1 -2,287.9 -2,020.7Net Exports (Billions) -527.9 -504.1 -292.9 -281.1 -460.3 -605.9 -698.5 -768.8


Page 2

Table A1.2 (continued)U.S. Economic Forecast SummaryForecast 2020 to 2025

2022:1 2022:2 2022:3 2022:4 2023:1 2023:2 2023:3 2023:4


Real Gross Domestic Product 19,141.1 19,347.7 19,566.3 19,768.1 19,957.3 20,133.0 20,304.3 20,480.9 % Ch , Annual Rate 3.8 4.4 4.6 4.2 3.9 3.6 3.4 3.5 Real Consumption 13,374.0 13,513.3 13,651.6 13,787.4 13,927.0 14,069.9 14,212.8 14,358.0

% Ch , Annual Rate 4.8 4.2 4.2 4.0 4.1 4.2 4.1 4.1 Real Nonresidential Fixed Investment 2,546.0 2,571.7 2,598.8 2,628.6 2,661.7 2,695.5 2,729.3 2,764.5

% Ch , Annual Rate 3.7 4.1 4.3 4.7 5.1 5.2 5.1 5.3 Real Residential Fixed Investment 592.0 594.4 596.2 596.7 596.6 597.0 596.8 597.3

% Ch , Annual Rate 4.8 1.6 1.3 0.3 0.0 0.3 -0.1 0.3Real Personal Income 17,374.0 17,479.5 17,611.7 17,743.8 17,920.6 18,067.1 18,211.9 18,375.4

% Ch , Annual Rate 2.5 2.5 3.1 3.0 4.0 3.3 3.2 3.6Real Per Capita Income ($/Person) 51,679 51,903 52,206 52,508 52,941 53,283 53,620 54,010

% Ch , Annual Rate 1.7 1.7 2.4 2.3 3.3 2.6 2.6 2.9


PCE Price Index (2012=100) 112.6 112.9 113.1 113.2 113.4 113.5 113.7 114.0 % Ch , Annual Rate 0.9 1.0 0.7 0.6 0.5 0.5 0.8 0.8

U.S. Consumer Price Index (1982-84=1.0) 2.654 2.665 2.671 2.675 2.679 2.683 2.689 2.696 % Ch , Annual Rate 1.4 1.5 0.9 0.7 0.5 0.6 0.9 1.1



Gross Domestic Product 22,038.4 22,296.0 22,574.8 22,850.3 23,119.3 23,375.6 23,631.7 23,889.9 % Ch , Annual Rate 4.3 4.8 5.1 5.0 4.8 4.5 4.5 4.4

Personal Income 19,563.5 19,730.0 19,913.1 20,092.3 20,317.4 20,511.3 20,715.6 20,945.5 % Ch , Annual Rate 3.4 3.4 3.8 3.6 4.6 3.9 4.0 4.5



Nonfarm Payroll Employment 143.39 145.55 147.58 149.29 150.86 152.08 153.34 154.80 % Ch , Annual Rate 5.9 6.2 5.7 4.7 4.3 3.3 3.4 3.9 Manufacturing 12.13 12.12 12.20 12.25 12.35 12.38 12.43 12.56

% Ch , Annual Rate 4.6 -0.4 2.6 1.7 3.4 0.9 1.6 4.4 Durable Manufacturing 7.19 7.17 7.25 7.29 7.38 7.41 7.45 7.56

% Ch , Annual Rate 6.3 -1.0 4.2 2.5 5.1 1.3 2.1 6.2 Nondurable Manufacturing 4.94 4.95 4.95 4.96 4.97 4.97 4.98 5.01

% Ch , Annual Rate 2.3 0.4 0.4 0.5 0.8 0.4 0.9 1.7 Construction 6.75 6.89 6.92 6.99 7.04 7.10 7.15 7.20

% Ch , Annual Rate 8.8 8.0 2.2 4.2 2.7 3.2 3.0 3.0 Service-Providing 124.08 126.12 128.02 129.60 131.02 132.15 133.31 134.58

% Ch , Annual Rate 5.9 6.7 6.2 5.0 4.4 3.5 3.6 3.9



% Ch , Annual Rate 9.9 0.3 -0.6 1.7 1.3 2.8 1.6 2.9Housing Starts (Millions) 1.285 1.305 1.313 1.306 1.296 1.291 1.255 1.248

% Ch , Annual Rate 0.2 6.6 2.5 -2.3 -3.1 -1.5 -10.7 -2.3Federal Budget Surplus (Billions) -1,944.9 -1,850.4 -1,761.6 -1,633.1 -1,549.4 -1,478.7 -1,411.3 -1,361.6Net Exports (Billions) -802.1 -786.0 -751.8 -714.0 -677.5 -654.2 -642.4 -643.1


Page 3

Table A1.2 (continued)U.S. Economic Forecast SummaryForecast 2020 to 2025

2024:1 2024:2 2024:3 2024:4 2025:1 2025:2 2025:3 2025:4


Real Gross Domestic Product 20,650.3 20,814.1 20,971.2 21,125.4 21,275.0 21,418.3 21,553.2 21,672.1 % Ch , Annual Rate 3.3 3.2 3.1 3.0 2.9 2.7 2.5 2.2 Real Consumption 14,491.4 14,616.8 14,733.4 14,838.9 14,936.4 15,026.4 15,114.5 15,199.3

% Ch , Annual Rate 3.8 3.5 3.2 2.9 2.7 2.4 2.4 2.3 Real Nonresidential Fixed Investment 2,799.7 2,834.7 2,869.8 2,905.9 2,941.3 2,977.3 3,012.0 3,042.3

% Ch , Annual Rate 5.2 5.1 5.0 5.1 5.0 5.0 4.7 4.1 Real Residential Fixed Investment 597.4 597.3 597.2 598.8 599.6 600.1 600.1 596.6

% Ch , Annual Rate 0.1 -0.1 -0.1 1.1 0.5 0.3 0.0 -2.3Real Personal Income 18,534.1 18,681.9 18,821.8 18,959.2 19,128.2 19,275.3 19,393.1 19,496.8

% Ch , Annual Rate 3.5 3.2 3.0 3.0 3.6 3.1 2.5 2.2Real Per Capita Income ($/Person) 54,386 54,729 55,047 55,358 55,760 56,097 56,348 56,557

% Ch , Annual Rate 2.8 2.5 2.4 2.3 2.9 2.4 1.8 1.5


PCE Price Index (2012=100) 114.3 114.6 115.0 115.4 115.9 116.4 116.9 117.4 % Ch , Annual Rate 1.0 1.2 1.4 1.4 1.6 1.6 1.8 1.9

U.S. Consumer Price Index (1982-84=1.0) 2.705 2.716 2.728 2.740 2.752 2.765 2.780 2.795 % Ch , Annual Rate 1.4 1.6 1.7 1.7 1.9 1.9 2.1 2.2



Gross Domestic Product 24,147.2 24,407.3 24,669.5 24,936.4 25,210.0 25,479.9 25,758.1 26,025.8 % Ch , Annual Rate 4.4 4.4 4.4 4.4 4.5 4.4 4.4 4.2

Personal Income 21,180.6 21,415.5 21,649.3 21,885.1 22,169.2 22,428.1 22,667.1 22,897.2 % Ch , Annual Rate 4.6 4.5 4.4 4.4 5.3 4.8 4.3 4.1



Nonfarm Payroll Employment 156.13 157.31 158.37 159.32 160.39 161.27 161.78 162.18 % Ch, Annual Rate 3.5 3.1 2.7 2.4 2.7 2.2 1.3 1.0 Manufacturing 12.68 12.78 12.86 12.92 13.02 13.08 13.11 13.13

% Ch, Annual Rate 3.8 3.2 2.4 1.9 3.2 2.1 0.8 0.8 Durable Manufacturing 7.66 7.75 7.82 7.88 7.98 8.04 8.08 8.11

% Ch, Annual Rate 5.4 4.7 3.8 3.3 4.8 3.4 1.8 1.7 Nondurable Manufacturing 5.02 5.03 5.04 5.03 5.04 5.04 5.03 5.02

% Ch, Annual Rate 1.5 0.8 0.2 -0.1 0.7 0.0 -0.8 -0.8 Construction 7.25 7.30 7.34 7.40 7.44 7.49 7.53 7.56

% Ch, Annual Rate 2.7 2.5 2.6 2.8 2.4 2.4 2.3 1.9 Service-Providing 135.74 136.78 137.71 138.55 139.47 140.23 140.67 141.00

% Ch, Annual Rate 3.5 3.1 2.7 2.5 2.7 2.2 1.3 0.9



% Ch, Annual Rate -0.9 0.8 -0.2 -1.2 -0.2 -0.7 0.5 -0.3Housing Starts (Millions) 1.252 1.237 1.236 1.236 1.233 1.277 1.278 1.243

% Ch, Annual Rate 1.3 -4.6 -0.5 0.1 -0.9 15.1 0.3 -10.5Federal Budget Surplus (Billions) -1,320.0 -1,287.5 -1,266.0 -1,248.1 -1,254.9 -1,260.7 -1,265.5 -1,268.1Net Exports (Billions) -646.2 -650.0 -650.6 -646.4 -637.2 -624.2 -611.9 -603.0


Page 4

Table A1.3Washington Economic Forecast SummaryForecast 2020 to 2025

2018 2019 2020 2021 2022 2023 2024 2025

Real Income (Billions of Chained 2012 Dollars)

Real Personal Income 432.202 450.665 455.479 459.049 469.834 486.267 504.065 520.352 % Ch 5.3 4.3 1.1 0.8 2.3 3.5 3.7 3.2 Real Wage and Salary Disb. 219.298 231.248 216.245 229.014 241.569 251.882 260.539 268.347

% Ch 6.5 5.4 -6.5 5.9 5.5 4.3 3.4 3.0 Real Nonwage Income 212.904 219.417 239.234 230.035 228.265 234.385 243.526 252.005

% Ch 4.1 3.1 9.0 -3.8 -0.8 2.7 3.9 3.5Real Per Capita Income ($/Person) 57,445 59,177 59,113 58,960 59,738 61,239 62,870 64,255

% Ch 3.9 3.0 -0.1 -0.3 1.3 2.5 2.7 2.2


U.S. Implicit Price Deflator, PCE (2012=1.0) 1.081 1.097 1.108 1.120 1.129 1.137 1.148 1.166 % Ch 2.1 1.4 1.0 1.1 0.9 0.6 1.0 1.6

Seattle Cons. Price Index (1982-84=1.0) 2.711 2.779 2.816 2.861 2.898 2.920 2.958 3.014 % Ch 3.2 2.5 1.3 1.6 1.3 0.8 1.3 1.9

Average Nonfarm Annual Wage 67,640 70,996 75,398 76,969 76,905 77,441 78,548 80,589 % Ch 6.4 5.0 6.2 2.1 -0.1 0.7 1.4 2.6

Avg. Hourly Earnings-Mfg. ($/Hour) 28.42 29.16 28.74 29.09 29.72 30.32 30.92 31.67 % Ch 3.8 2.6 -1.5 1.2 2.1 2.0 2.0 2.4

Current Dollar Income (Billions of Dollars)

Personal Income 467.399 494.189 504.496 514.081 530.662 552.700 578.895 606.983 % Ch 7.5 5.7 2.1 1.9 3.2 4.2 4.7 4.9

Disposable Personal Income 412.904 436.222 460.806 466.679 475.763 491.625 512.570 537.409 % Ch 8.1 5.6 5.6 1.3 1.9 3.3 4.3 4.8

Per Capita Income ($/Person) 62,122 64,891 65,475 66,028 67,472 69,605 72,202 74,951 % Ch 6.0 4.5 0.9 0.8 2.2 3.2 3.7 3.8

Employment (Thousands)

Washington Civilian Labor Force 3,806.8 3,912.7 3,963.3 4,107.4 4,195.7 4,255.9 4,303.0 4,344.6 Total Washington Employment 3,637.3 3,745.8 3,370.0 3,543.8 3,768.4 3,934.4 4,049.8 4,131.1 Unemployment Rate (%) 4.45 4.27 14.95 13.73 10.19 7.56 5.89 4.91

Nonfarm Payroll Employment 3,401.1 3,468.2 3,087.8 3,232.8 3,443.0 3,588.4 3,698.1 3,771.6 % Ch 2.4 2.0 -11.0 4.7 6.5 4.2 3.1 2.0 Manufacturing 287.8 293.6 254.9 263.1 278.5 282.3 287.2 290.7

% Ch 1.2 2.0 -13.2 3.2 5.9 1.4 1.8 1.2 Durable Manufacturing 202.2 206.8 177.8 176.9 187.3 190.1 193.4 196.2

% Ch 0.9 2.3 -14.0 -0.5 5.9 1.5 1.7 1.4 Aerospace 83.9 88.5 78.2 74.0 77.4 77.0 75.3 73.8

% Ch -0.3 5.5 -11.7 -5.3 4.6 -0.6 -2.2 -1.9 Nondurable Manufacturing 85.6 86.8 77.1 86.1 91.1 92.2 93.8 94.5

% Ch 2.0 1.4 -11.1 11.7 5.8 1.1 1.8 0.7 Construction 213.1 219.4 195.4 187.9 194.8 198.0 199.1 199.7

% Ch 6.7 2.9 -10.9 -3.8 3.7 1.6 0.6 0.3 Service-Providing 2,893.9 2,949.4 2,632.7 2,776.8 2,964.3 3,102.5 3,206.0 3,275.5

% Ch 2.2 1.9 -10.7 5.5 6.8 4.7 3.3 2.2 Software Publishers 65.3 70.0 70.1 69.2 71.5 73.1 74.4 75.5

% Ch 6.4 7.1 0.2 -1.3 3.3 2.2 1.8 1.5 Electronic Shopping and Mail-Order 54.8 63.4 72.5 74.5 76.8 78.7 80.5 82.2

% Ch 10.1 15.8 14.2 2.9 3.0 2.5 2.3 2.2

Housing Indicators (Thousands)

Housing Units Authorized by Bldg. Permit 47.746 48.424 38.771 40.076 40.832 39.770 39.513 39.881 % Ch 4.3 1.4 -19.9 3.4 1.9 -2.6 -0.6 0.9 Single-Family 23.676 23.300 21.279 26.300 26.733 26.141 24.731 24.006

% Ch 2.4 -1.6 -8.7 23.6 1.6 -2.2 -5.4 -2.9 Multi-Family 24.070 25.124 17.492 13.776 14.099 13.629 14.782 15.875

% Ch 6.1 4.4 -30.4 -21.2 2.3 -3.3 8.5 7.430-Year Fixed Mortgage Rate (%) 4.54 3.94 3.34 2.99 2.90 3.01 3.24 3.43

Page 5

Table A1.4Washington Economic Forecast SummaryForecast 2020 to 2025

2020:1 2020:2 2020:3 2020:4 2021:1 2021:2 2021:3 2021:4


Real Personal Income 456.001 451.019 459.927 454.967 455.480 458.622 459.968 462.126 % Ch, Annual Rate 0.7 -4.3 8.1 -4.2 0.5 2.8 1.2 1.9 Real Wage and Salary Disb. 233.271 209.422 207.444 214.841 222.939 227.961 230.922 234.234

% Ch, Annual Rate -1.5 -35.0 -3.7 15.0 16.0 9.3 5.3 5.9 Real Nonwage Income 222.730 241.597 252.483 240.127 232.541 230.661 229.046 227.892

% Ch, Annual Rate 3.0 38.4 19.3 -18.2 -12.1 -3.2 -2.8 -2.0Real Per Capita Income ($/Person) 59,422 58,612 59,609 58,810 58,719 58,983 59,006 59,132

% Ch, Annual Rate -0.6 -5.3 7.0 -5.3 -0.6 1.8 0.2 0.9


U.S. Implicit Price Deflator, PCE (2012=1.0) 1.107 1.104 1.108 1.111 1.115 1.119 1.121 1.124 % Ch, Annual Rate 1.3 -0.9 1.5 1.2 1.5 1.3 0.8 0.8

Seattle Cons. Price Index (1982-84=1.0) 2.818 2.801 2.816 2.830 2.845 2.858 2.866 2.874 % Ch, Annual Rate 2.7 -2.5 2.2 1.9 2.2 1.9 1.1 1.1

Average Nonfarm Annual Wage 71,318 76,574 76,567 77,134 77,310 77,053 76,749 76,764 % Ch, Annual Rate -2.5 32.9 0.0 3.0 0.9 -1.3 -1.6 0.1

Avg. Hourly Earnings-Mfg. ($/Hour) 28.66 28.69 28.77 28.84 28.91 29.02 29.14 29.29 % Ch, Annual Rate -5.8 0.3 1.1 1.0 1.0 1.4 1.7 2.1


Personal Income 504.635 497.995 509.686 505.667 508.076 513.258 515.764 519.226 % Ch, Annual Rate 2.0 -5.2 9.7 -3.1 1.9 4.1 2.0 2.7

Disposable Personal Income 445.565 458.870 473.923 464.864 464.318 467.016 467.647 467.735 % Ch, Annual Rate 1.8 12.5 13.8 -7.4 -0.5 2.3 0.5 0.1

Per Capita Income ($/Person) 65,760 64,717 66,058 65,364 65,500 66,009 66,163 66,438 % Ch, Annual Rate 0.8 -6.2 8.6 -4.1 0.8 3.1 0.9 1.7



Nonfarm Payroll Employment 3,514.4 2,926.7 2,909.1 3,001.1 3,119.7 3,211.9 3,273.1 3,326.6 % Ch, Annual Rate 2.3 -51.9 -2.4 13.3 16.8 12.4 7.8 6.7 Manufacturing 292.1 258.1 231.4 238.0 250.7 263.0 265.2 273.3

% Ch, Annual Rate -1.4 -39.0 -35.4 12.0 23.0 21.2 3.4 12.7 Durable Manufacturing 204.9 181.8 160.2 164.1 169.8 177.9 177.0 183.0

% Ch, Annual Rate -2.2 -38.0 -39.7 10.2 14.6 20.4 -1.9 14.2 Aerospace 88.3 79.3 73.6 71.7 72.2 73.5 74.8 75.6

% Ch, Annual Rate -2.8 -34.9 -25.8 -9.9 2.8 7.5 7.2 4.8 Nondurable Manufacturing 87.1 76.3 71.2 73.9 80.9 85.1 88.2 90.3

% Ch, Annual Rate 0.6 -41.3 -24.2 16.2 43.3 23.0 15.3 9.7 Construction 224.7 173.3 193.6 189.9 188.9 188.3 185.6 188.6

% Ch, Annual Rate 5.9 -64.6 55.7 -7.4 -2.1 -1.2 -5.8 6.8 Service-Providing 2,992.1 2,490.8 2,479.6 2,568.2 2,675.1 2,755.4 2,817.3 2,859.5

% Ch, Annual Rate 2.4 -52.0 -1.8 15.1 17.7 12.6 9.3 6.1 Software Publishers 73.2 70.0 68.8 68.4 68.5 69.0 69.3 69.9

% Ch, Annual Rate 7.7 -16.0 -6.9 -2.5 0.8 2.9 1.6 3.8 Electronic Shopping and Mail-Order 73.2 71.5 72.2 73.0 73.6 74.3 74.9 75.4

% Ch, Annual Rate 38.4 -9.0 4.3 4.0 3.7 3.5 3.3 3.1


Housing Units Authorized by Bldg. Permit 49.811 31.254 35.963 38.056 39.877 39.626 40.106 40.697 % Ch, Annual Rate -26.9 -84.5 75.3 25.4 20.6 -2.5 4.9 6.0 Single-Family 24.783 14.704 22.001 23.629 25.424 26.344 26.635 26.800

% Ch, Annual Rate -21.4 -87.6 401.2 33.0 34.0 15.3 4.5 2.5 Multi-Family 25.028 16.550 13.962 14.427 14.453 13.283 13.471 13.897

% Ch, Annual Rate -31.9 -80.9 -49.3 14.0 0.7 -28.7 5.8 13.330-Year Fixed Mortgage Rate (%) 3.51 3.32 3.33 3.21 3.04 3.00 2.96 2.96

Page 6

Table A1.4 (continued)Washington Economic Forecast SummaryForecast 2020 to 2025

2022:1 2022:2 2022:3 2022:4 2023:1 2023:2 2023:3 2023:4


Real Personal Income 465.208 468.204 471.427 474.499 479.595 483.826 488.235 493.412 % Ch, Annual Rate 2.7 2.6 2.8 2.6 4.4 3.6 3.7 4.3 Real Wage and Salary Disb. 237.153 240.328 243.232 245.563 248.582 250.652 252.758 255.537

% Ch, Annual Rate 5.1 5.5 4.9 3.9 5.0 3.4 3.4 4.5 Real Nonwage Income 228.054 227.876 228.195 228.936 231.013 233.174 235.477 237.875

% Ch, Annual Rate 0.3 -0.3 0.6 1.3 3.7 3.8 4.0 4.1Real Per Capita Income ($/Person) 59,376 59,606 59,865 60,107 60,608 61,002 61,420 61,927

% Ch, Annual Rate 1.7 1.6 1.7 1.6 3.4 2.6 2.8 3.3


U.S. Implicit Price Deflator, PCE (2012=1.0) 1.126 1.129 1.131 1.132 1.134 1.135 1.137 1.140 % Ch, Annual Rate 0.9 1.0 0.7 0.6 0.5 0.5 0.8 0.8

Seattle Cons. Price Index (1982-84=1.0) 2.885 2.896 2.902 2.907 2.911 2.916 2.922 2.930 % Ch, Annual Rate 1.4 1.5 0.9 0.7 0.5 0.6 0.9 1.1

Average Nonfarm Annual Wage 76,782 76,871 76,946 77,021 77,278 77,364 77,455 77,668 % Ch, Annual Rate 0.1 0.5 0.4 0.4 1.3 0.5 0.5 1.1

Avg. Hourly Earnings-Mfg. ($/Hour) 29.47 29.64 29.80 29.96 30.13 30.26 30.38 30.52 % Ch, Annual Rate 2.4 2.3 2.1 2.2 2.3 1.8 1.7 1.8


Personal Income 523.832 528.485 533.029 537.301 543.738 549.280 555.356 562.425 % Ch, Annual Rate 3.6 3.6 3.5 3.2 4.9 4.1 4.5 5.2

Disposable Personal Income 470.889 474.122 477.545 480.494 485.077 489.002 493.318 499.104 % Ch, Annual Rate 2.7 2.8 2.9 2.5 3.9 3.3 3.6 4.8

Per Capita Income ($/Person) 66,858 67,280 67,688 68,062 68,714 69,255 69,863 70,589 % Ch, Annual Rate 2.6 2.6 2.4 2.2 3.9 3.2 3.6 4.2



Nonfarm Payroll Employment 3,374.7 3,424.6 3,468.7 3,504.1 3,539.7 3,570.2 3,603.0 3,640.7 % Ch, Annual Rate 5.9 6.0 5.3 4.1 4.1 3.5 3.7 4.3 Manufacturing 276.9 277.9 279.2 279.9 281.2 281.6 282.2 284.0


% Ch, Annual Rate 6.7 1.9 2.4 1.2 2.1 0.5 0.4 2.5 Aerospace 76.8 77.4 77.7 77.7 77.6 77.2 76.8 76.3

% Ch, Annual Rate 6.3 3.0 1.5 0.3 -0.8 -1.8 -2.3 -2.3 Nondurable Manufacturing 90.9 91.0 91.2 91.4 91.7 91.9 92.3 92.8

% Ch, Annual Rate 2.5 0.7 0.9 0.8 1.2 0.9 1.6 2.6 Construction 191.2 194.6 196.4 197.1 197.4 197.1 198.1 199.3

% Ch, Annual Rate 5.5 7.3 3.8 1.5 0.5 -0.6 1.9 2.4 Service-Providing 2,901.4 2,946.7 2,987.6 3,021.4 3,055.5 3,085.7 3,117.0 3,151.7

% Ch, Annual Rate 6.0 6.4 5.7 4.6 4.6 4.0 4.1 4.5 Software Publishers 70.6 71.2 71.8 72.2 72.6 72.9 73.2 73.5

% Ch, Annual Rate 4.1 3.3 3.5 2.3 1.8 1.9 1.7 1.7 Electronic Shopping and Mail-Order 76.0 76.5 77.0 77.5 78.0 78.5 78.9 79.4

% Ch, Annual Rate 2.9 2.8 2.7 2.6 2.5 2.4 2.4 2.3


Housing Units Authorized by Bldg. Permit 40.832 41.002 40.879 40.614 40.277 40.146 39.383 39.273 % Ch, Annual Rate 1.3 1.7 -1.2 -2.6 -3.3 -1.3 -7.4 -1.1 Single-Family 26.741 26.794 26.768 26.630 26.482 26.316 26.043 25.722

% Ch, Annual Rate -0.9 0.8 -0.4 -2.1 -2.2 -2.5 -4.1 -4.8 Multi-Family 14.091 14.207 14.111 13.985 13.795 13.831 13.341 13.551

% Ch, Annual Rate 5.7 3.3 -2.7 -3.5 -5.3 1.0 -13.4 6.530-Year Fixed Mortgage Rate (%) 2.93 2.91 2.89 2.89 2.92 2.96 3.02 3.12

Page 7

Table A1.4 (continued)Washington Economic Forecast SummaryForecast 2020 to 2025

2024:1 2024:2 2024:3 2024:4 2025:1 2025:2 2025:3 2025:4


Real Personal Income 497.876 502.067 506.159 510.157 514.855 518.996 522.351 525.207 % Ch, Annual Rate 3.7 3.4 3.3 3.2 3.7 3.3 2.6 2.2 Real Wage and Salary Disb. 257.632 259.589 261.532 263.403 265.695 267.848 269.369 270.478

% Ch, Annual Rate 3.3 3.1 3.0 2.9 3.5 3.3 2.3 1.7 Real Nonwage Income 240.244 242.479 244.627 246.754 249.160 251.148 252.982 254.729

% Ch, Annual Rate 4.0 3.8 3.6 3.5 4.0 3.2 3.0 2.8Real Per Capita Income ($/Person) 62,336 62,702 63,053 63,389 63,812 64,165 64,422 64,620

% Ch, Annual Rate 2.7 2.4 2.3 2.2 2.7 2.2 1.6 1.2


U.S. Implicit Price Deflator, PCE (2012=1.0) 1.143 1.146 1.150 1.154 1.159 1.164 1.169 1.174 % Ch, Annual Rate 1.0 1.2 1.4 1.4 1.6 1.6 1.8 1.9

Seattle Cons. Price Index (1982-84=1.0) 2.940 2.952 2.965 2.977 2.991 3.005 3.021 3.037 % Ch, Annual Rate 1.4 1.6 1.7 1.7 1.9 1.9 2.1 2.2

Average Nonfarm Annual Wage 77,972 78,335 78,728 79,158 79,713 80,306 80,891 81,447 % Ch, Annual Rate 1.6 1.9 2.0 2.2 2.8 3.0 2.9 2.8

Avg. Hourly Earnings-Mfg. ($/Hour) 30.68 30.84 31.00 31.16 31.36 31.57 31.77 31.97 % Ch, Annual Rate 2.1 2.1 2.1 2.1 2.6 2.7 2.6 2.5



Disposable Personal Income 504.339 509.648 515.233 521.057 528.100 534.700 540.707 546.131 % Ch, Annual Rate 4.3 4.3 4.5 4.6 5.5 5.1 4.6 4.1

Per Capita Income ($/Person) 71,236 71,877 72,524 73,172 73,957 74,661 75,298 75,890 % Ch, Annual Rate 3.7 3.6 3.7 3.6 4.4 3.9 3.5 3.2



Nonfarm Payroll Employment 3,665.5 3,687.8 3,709.6 3,729.5 3,750.8 3,768.4 3,779.6 3,787.4 % Ch, Annual Rate 2.8 2.5 2.4 2.2 2.3 1.9 1.2 0.8 Manufacturing 285.6 286.9 287.8 288.6 289.7 290.5 291.0 291.4


% Ch, Annual Rate 2.2 2.0 1.5 1.3 1.7 1.5 0.9 1.0 Aerospace 75.9 75.5 75.0 74.6 74.2 73.9 73.6 73.5

% Ch, Annual Rate -2.3 -2.1 -2.2 -2.2 -2.1 -1.9 -1.4 -0.8 Nondurable Manufacturing 93.4 93.8 94.0 94.1 94.4 94.6 94.5 94.5

% Ch, Annual Rate 2.4 1.7 1.0 0.6 1.3 0.6 -0.2 -0.1 Construction 199.2 198.9 199.2 199.3 199.5 199.5 199.9 199.9

% Ch, Annual Rate -0.1 -0.7 0.5 0.2 0.5 0.0 0.7 0.0 Service-Providing 3,175.0 3,196.2 3,216.8 3,235.8 3,255.8 3,272.6 3,283.0 3,290.5

% Ch, Annual Rate 3.0 2.7 2.6 2.4 2.5 2.1 1.3 0.9 Software Publishers 73.9 74.2 74.5 74.8 75.1 75.4 75.6 75.9

% Ch, Annual Rate 1.9 1.9 1.6 1.6 1.3 1.7 1.4 1.4 Electronic Shopping and Mail-Order 79.8 80.3 80.7 81.2 81.6 82.0 82.5 82.9

% Ch, Annual Rate 2.3 2.2 2.2 2.2 2.2 2.1 2.1 2.1


Housing Units Authorized by Bldg. Permit 39.415 39.460 39.531 39.647 39.583 40.194 40.168 39.577 % Ch, Annual Rate 1.5 0.5 0.7 1.2 -0.6 6.3 -0.3 -5.8 Single-Family 25.224 24.772 24.548 24.380 24.171 24.065 23.957 23.830

% Ch, Annual Rate -7.5 -7.0 -3.6 -2.7 -3.4 -1.7 -1.8 -2.1 Multi-Family 14.192 14.687 14.984 15.267 15.412 16.129 16.212 15.747

% Ch, Annual Rate 20.3 14.7 8.3 7.8 3.9 19.9 2.1 -11.030-Year Fixed Mortgage Rate (%) 3.21 3.19 3.26 3.32 3.37 3.42 3.44 3.49

Page 8

Table A2.1U.S. Nonagricultural Employment by Industry (Millions)Forecast 2020 to 2025

2018 2019 2020 2021 2022 2023 2024 2025Nonfarm Payroll Employment 148.89 150.94 131.41 137.15 146.45 152.77 157.78 161.40

% Ch 1.6 1.4 -12.9 4.4 6.8 4.3 3.3 2.3Manufacturing 12.69 12.84 10.89 11.48 12.17 12.43 12.81 13.09

% Ch 2.0 1.2 -15.1 5.4 6.0 2.1 3.0 2.2Durable Manufacturing 7.95 8.06 6.62 6.77 7.22 7.45 7.78 8.05

% Ch 2.7 1.4 -17.8 2.3 6.7 3.1 4.4 3.5Wood Products 0.41 0.41 0.31 0.31 0.38 0.41 0.43 0.46

% Ch 2.3 0.7 -23.1 -2.5 25.1 6.2 5.9 6.5Primary and Fabricated Metals 1.85 1.88 1.59 1.68 1.80 1.86 1.94 2.01

% Ch 3.0 1.4 -15.4 6.1 7.0 3.0 4.7 3.4Computer and Electronic Products 1.05 1.08 1.07 1.11 1.12 1.12 1.14 1.15

% Ch 1.5 2.5 -1.3 4.1 0.6 0.2 1.7 1.0Machinery and Electrical Equipment 1.52 1.53 1.26 1.30 1.38 1.42 1.48 1.53

% Ch 3.5 1.0 -18.0 3.5 6.1 3.0 4.6 3.2Transportation Equipment 1.70 1.73 1.20 1.13 1.20 1.30 1.40 1.49

% Ch 3.6 1.9 -30.6 -6.5 6.8 8.3 7.4 6.7Other Durables 1.42 1.43 1.19 1.24 1.34 1.34 1.38 1.41

% Ch 1.3 0.7 -16.4 4.2 7.6 0.3 2.6 2.0Nondurable Manufacturing 4.74 4.78 4.27 4.71 4.95 4.98 5.03 5.03

% Ch 0.9 0.8 -10.6 10.2 5.1 0.7 1.0 0.1Food Manufacturing 1.62 1.64 1.53 1.82 1.98 2.02 2.08 2.11

% Ch 1.4 1.3 -6.8 18.7 8.9 2.0 3.0 1.4Paper and Paper Products 0.37 0.37 0.33 0.37 0.39 0.38 0.39 0.38

% Ch -0.1 0.0 -9.6 12.5 3.7 -0.4 0.6 -0.3Other Nondurables 2.76 2.77 2.41 2.52 2.58 2.58 2.57 2.54

% Ch 0.8 0.6 -13.0 4.5 2.6 -0.2 -0.5 -1.0Natural Resources and Mining 0.73 0.74 0.57 0.41 0.43 0.45 0.45 0.47

% Ch 7.6 1.2 -22.7 -28.1 6.1 4.2 0.5 3.3Construction 7.29 7.49 6.69 6.40 6.89 7.12 7.32 7.50

% Ch 4.6 2.9 -10.8 -4.2 7.6 3.4 2.8 2.5Trade, Transportation, and Utilities 27.60 27.71 23.20 23.59 25.38 25.34 25.77 26.46

% Ch 0.8 0.4 -16.3 1.7 7.6 -0.1 1.7 2.7Wholesale Trade 5.84 5.90 4.80 4.49 5.00 5.38 5.60 5.68

% Ch 0.5 1.1 -18.7 -6.4 11.4 7.6 3.9 1.4Retail Trade 15.78 15.64 13.16 14.03 14.83 14.12 14.21 14.76

% Ch -0.4 -0.9 -15.9 6.7 5.7 -4.8 0.6 3.9Trans., Warehousing, and Utilities 5.98 6.17 5.24 5.06 5.55 5.84 5.96 6.02

% Ch 4.3 3.1 -15.0 -3.4 9.6 5.3 2.1 0.9Information 2.84 2.86 2.31 2.64 2.67 2.63 2.79 2.86

% Ch 0.9 0.8 -19.1 14.2 1.2 -1.5 6.0 2.5Publishing Industries 0.74 0.76 0.72 0.65 0.69 0.69 0.69 0.67

% Ch 1.3 2.9 -5.5 -8.9 5.2 0.8 -0.8 -1.9Other Information 2.10 2.10 1.59 1.99 1.98 1.94 2.10 2.18

% Ch 0.7 0.0 -24.1 24.6 -0.2 -2.4 8.4 4.0Financial Activities 8.59 8.75 7.96 7.81 8.70 9.13 9.27 9.26

% Ch 1.7 1.8 -8.9 -1.9 11.4 4.9 1.6 -0.2Professional and Business Services 20.95 21.32 17.66 18.34 21.67 24.09 26.14 27.97

% Ch 2.2 1.7 -17.2 3.9 18.1 11.2 8.5 7.0Education and Health Services 23.64 24.18 22.08 23.93 25.36 27.44 28.42 28.67

% Ch 1.9 2.3 -8.7 8.4 6.0 8.2 3.6 0.9Leisure and Hospitality 16.30 16.58 12.43 14.97 15.03 15.64 16.18 16.44

% Ch 1.5 1.7 -25.0 20.4 0.4 4.1 3.4 1.6Other Services 5.83 5.89 5.13 4.71 5.12 5.30 5.27 5.18

% Ch 1.1 1.1 -12.9 -8.2 8.6 3.5 -0.5 -1.8Federal Government 2.80 2.83 2.95 2.84 2.84 2.84 2.84 2.84

% Ch -0.2 1.2 4.1 -3.6 0.0 0.0 0.0 0.0State and Local Government 19.65 19.75 19.53 20.01 20.18 20.35 20.51 20.66

% Ch 0.5 0.5 -1.1 2.5 0.8 0.8 0.8 0.7

Page 9

Table A2.2U.S. Nonagricultural Employment by Industry (Millions)Forecast 2020 to 2025

2020:1 2020:2 2020:3 2020:4 2021:1 2021:2 2021:3 2021:4Nonfarm Payroll Employment 152.08 124.78 122.34 126.45 131.85 136.22 139.19 141.35

% Ch, Annual Rate 0.8 -54.7 -7.6 14.1 18.2 13.9 9.0 6.4Manufacturing 12.84 11.02 9.58 10.14 10.87 11.54 11.52 11.99

% Ch, Annual Rate -0.3 -45.8 -42.8 25.6 31.7 27.3 -0.9 17.7Durable Manufacturing 8.05 6.76 5.62 6.06 6.43 6.88 6.70 7.08

% Ch, Annual Rate 0.0 -50.2 -52.3 35.3 26.5 31.4 -10.0 24.8Wood Products 0.41 0.38 0.23 0.24 0.27 0.31 0.30 0.35

% Ch, Annual Rate -0.2 -28.2 -86.4 19.2 61.1 69.4 -11.0 81.7Primary and Fabricated Metals 1.85 1.66 1.36 1.48 1.58 1.72 1.67 1.77

% Ch, Annual Rate -2.6 -35.1 -55.9 40.4 32.7 37.2 -10.8 27.8Computer and Electronic Products 1.10 1.05 1.05 1.07 1.09 1.12 1.12 1.12

% Ch, Annual Rate 2.0 -14.8 -2.1 7.3 6.8 12.4 0.5 2.0Machinery and Electrical Equipment 1.51 1.32 1.03 1.15 1.24 1.33 1.28 1.35

% Ch, Annual Rate -2.6 -42.2 -62.6 55.0 32.7 35.5 -15.5 22.8Transportation Equipment 1.74 1.15 0.93 1.00 1.07 1.15 1.11 1.17

% Ch, Annual Rate 3.0 -81.1 -56.6 32.9 32.6 31.9 -12.0 22.6Other Durables 1.43 1.20 1.02 1.12 1.18 1.26 1.22 1.32

% Ch, Annual Rate 1.1 -51.2 -47.4 47.6 20.2 29.5 -9.8 35.5Nondurable Manufacturing 4.79 4.25 3.96 4.08 4.44 4.66 4.81 4.91

% Ch, Annual Rate -0.9 -37.7 -24.8 12.8 39.8 21.5 13.8 8.4Food Manufacturing 1.65 1.55 1.43 1.48 1.67 1.79 1.87 1.94

% Ch, Annual Rate -1.0 -23.2 -26.7 14.6 60.8 30.5 21.4 14.2Paper and Paper Products 0.36 0.34 0.30 0.32 0.35 0.37 0.38 0.39

% Ch, Annual Rate -1.4 -27.8 -31.8 18.4 45.0 23.5 15.8 8.0Other Nondurables 2.77 2.37 2.22 2.28 2.42 2.51 2.56 2.59

% Ch, Annual Rate -0.7 -46.5 -22.5 10.9 26.7 15.3 8.4 4.4Natural Resources and Mining 0.71 0.61 0.51 0.44 0.41 0.41 0.41 0.41

% Ch, Annual Rate -7.3 -45.2 -51.4 -44.5 -24.6 -4.8 0.0 8.0Construction 7.61 6.57 6.34 6.23 6.24 6.30 6.47 6.61

% Ch, Annual Rate 3.6 -44.5 -13.6 -6.5 0.6 3.8 11.3 9.3Trade, Transportation, and Utilities 27.81 22.43 21.11 21.43 22.44 23.40 23.98 24.54

% Ch, Annual Rate 0.6 -57.7 -21.6 6.4 20.1 18.3 10.4 9.5Wholesale Trade 5.93 4.90 4.09 4.27 4.37 4.42 4.52 4.66

% Ch, Annual Rate 0.5 -53.5 -51.4 18.4 10.3 3.9 9.5 13.3Retail Trade 15.66 12.32 12.32 12.34 13.16 13.96 14.37 14.65

% Ch, Annual Rate 0.2 -61.7 -0.1 0.6 29.7 26.3 12.3 8.1Trans., Warehousing, and Utilities 6.22 5.21 4.70 4.83 4.90 5.03 5.10 5.23

% Ch, Annual Rate 1.7 -50.8 -33.9 11.7 5.9 10.8 5.9 10.2Information 2.89 2.26 1.93 2.16 2.47 2.63 2.69 2.78

% Ch, Annual Rate 2.6 -62.6 -46.7 55.5 70.3 28.4 10.1 13.6Publishing Industries 0.77 0.75 0.69 0.66 0.65 0.65 0.65 0.66

% Ch, Annual Rate 2.6 -7.3 -30.2 -17.2 -5.6 3.3 -2.1 7.5Other Information 2.12 1.51 1.24 1.50 1.82 1.97 2.04 2.11

% Ch, Annual Rate 2.6 -74.6 -53.8 112.3 115.2 38.4 14.4 15.7Financial Activities 8.84 8.22 7.45 7.35 7.59 7.75 7.88 8.03

% Ch, Annual Rate 1.5 -25.0 -32.8 -4.9 13.5 8.9 6.6 8.1Professional and Business Services 21.50 17.13 15.53 16.47 17.33 18.10 18.59 19.35

% Ch, Annual Rate 0.5 -59.8 -32.4 26.7 22.5 19.0 11.2 17.4Education and Health Services 24.54 20.23 21.24 22.32 23.17 23.62 24.61 24.32

% Ch, Annual Rate 1.9 -53.8 21.7 22.0 16.0 8.1 17.7 -4.6Leisure and Hospitality 16.68 9.41 11.10 12.54 13.80 14.93 15.51 15.64

% Ch, Annual Rate -1.5 -89.9 93.7 62.8 46.9 37.0 16.4 3.3Other Services 5.93 4.69 5.13 4.80 4.74 4.71 4.66 4.75

% Ch, Annual Rate 0.5 -60.8 42.7 -23.4 -4.6 -2.9 -3.9 8.3Federal Government 2.87 3.12 2.96 2.85 2.84 2.84 2.84 2.84

% Ch, Annual Rate 3.2 39.7 -19.0 -13.8 -1.2 0.0 0.0 0.0State and Local Government 19.86 19.09 19.47 19.71 19.95 19.99 20.04 20.08

% Ch, Annual Rate 0.9 -14.6 8.2 5.0 5.0 0.8 0.8 0.8

Page 10

Table A2.2 (continued)U.S. Nonagricultural Employment by Industry (Millions)Forecast 2020 to 2025

2022Q1 2022Q2 2022Q3 2022Q4 2023Q1 2023Q2 2023Q3 2023Q4Nonfarm Payroll Employment 143.39 145.55 147.58 149.29 150.86 152.08 153.34 154.80

% Ch, Annual Rate 5.9 6.2 5.7 4.7 4.3 3.3 3.4 3.9Manufacturing 12.13 12.12 12.20 12.25 12.35 12.38 12.43 12.56

% Ch, Annual Rate 4.6 -0.4 2.6 1.7 3.4 0.9 1.6 4.4Durable Manufacturing 7.19 7.17 7.25 7.29 7.38 7.41 7.45 7.56

% Ch, Annual Rate 6.3 -1.0 4.2 2.5 5.1 1.3 2.1 6.2Wood Products 0.37 0.38 0.39 0.39 0.40 0.40 0.41 0.42

% Ch, Annual Rate 29.2 10.3 9.8 5.0 8.5 2.9 2.3 8.2Primary and Fabricated Metals 1.80 1.79 1.81 1.81 1.84 1.85 1.86 1.89

% Ch, Annual Rate 5.7 -0.9 3.2 1.6 4.8 2.2 2.3 6.7Computer and Electronic Products 1.12 1.12 1.12 1.11 1.12 1.12 1.12 1.13

% Ch, Annual Rate -0.5 -1.3 -1.0 -0.7 0.4 0.8 1.2 1.9Machinery and Electrical Equipment 1.37 1.37 1.38 1.39 1.40 1.41 1.42 1.44

% Ch, Annual Rate 8.4 -0.1 2.0 1.9 5.1 2.1 2.4 6.2Transportation Equipment 1.18 1.17 1.21 1.25 1.29 1.29 1.30 1.33

% Ch, Annual Rate 2.5 -3.6 17.3 11.9 12.1 0.5 4.8 10.0Other Durables 1.35 1.34 1.34 1.33 1.34 1.34 1.34 1.35

% Ch, Annual Rate 8.7 -2.7 -0.3 -1.6 2.3 0.0 -0.3 4.6Nondurable Manufacturing 4.94 4.95 4.95 4.96 4.97 4.97 4.98 5.01

% Ch, Annual Rate 2.3 0.4 0.4 0.5 0.8 0.4 0.9 1.7Food Manufacturing 1.96 1.98 1.98 1.99 2.00 2.01 2.02 2.04

% Ch, Annual Rate 5.2 2.8 1.9 1.6 1.7 1.3 2.6 4.1Paper and Paper Products 0.39 0.39 0.38 0.38 0.38 0.38 0.38 0.39

% Ch, Annual Rate -0.9 -1.5 -2.2 -1.6 0.0 0.3 0.8 1.5Other Nondurables 2.59 2.58 2.58 2.58 2.58 2.58 2.58 2.58

% Ch, Annual Rate 0.6 -1.0 -0.4 0.0 0.3 -0.3 -0.4 0.0Natural Resources and Mining 0.42 0.43 0.44 0.45 0.45 0.45 0.45 0.45

% Ch, Annual Rate 7.7 7.4 9.3 7.2 4.9 1.0 -0.2 -0.8Construction 6.75 6.89 6.92 6.99 7.04 7.10 7.15 7.20

% Ch, Annual Rate 8.8 8.0 2.2 4.2 2.7 3.2 3.0 3.0Trade, Transportation, and Utilities 25.06 25.32 25.63 25.50 25.18 25.27 25.40 25.52

% Ch, Annual Rate 8.9 4.2 4.9 -2.1 -4.9 1.5 2.0 2.0Wholesale Trade 4.79 4.89 5.10 5.23 5.30 5.36 5.41 5.47

% Ch, Annual Rate 11.6 8.9 18.4 9.9 5.4 5.0 4.1 4.2Retail Trade 14.92 14.97 14.89 14.53 14.09 14.08 14.13 14.17

% Ch, Annual Rate 7.5 1.5 -2.3 -9.2 -11.5 -0.3 1.3 1.1Trans., Warehousing, and Utilities 5.36 5.46 5.64 5.74 5.79 5.83 5.86 5.89

% Ch, Annual Rate 10.3 7.8 14.1 7.0 3.6 2.9 2.0 2.1Information 2.75 2.72 2.64 2.57 2.59 2.61 2.63 2.69

% Ch, Annual Rate -3.9 -4.0 -11.5 -10.0 3.5 2.0 3.5 9.3Publishing Industries 0.68 0.68 0.69 0.70 0.70 0.69 0.69 0.69

% Ch, Annual Rate 8.6 5.2 6.0 1.1 -0.8 -0.3 -1.1 -1.1Other Information 2.07 2.04 1.94 1.87 1.90 1.91 1.94 2.00

% Ch, Annual Rate -7.6 -6.9 -16.8 -13.8 5.2 2.8 5.3 13.2Financial Activities 8.33 8.60 8.87 9.01 9.07 9.11 9.14 9.18

% Ch, Annual Rate 15.9 13.5 13.2 6.2 2.7 2.1 1.4 1.8Professional and Business Services 20.48 21.42 22.09 22.68 23.45 23.80 24.28 24.83

% Ch, Annual Rate 25.5 19.6 13.2 11.1 14.3 6.1 8.3 9.4Education and Health Services 24.14 25.01 25.88 26.42 26.91 27.33 27.61 27.92

% Ch, Annual Rate -2.9 15.1 14.8 8.5 7.7 6.4 4.2 4.4Leisure and Hospitality 15.44 14.97 14.64 15.06 15.39 15.55 15.74 15.90

% Ch, Annual Rate -4.9 -11.7 -8.6 12.0 9.0 4.3 4.9 4.1Other Services 4.91 5.07 5.22 5.29 5.30 5.31 5.30 5.29

% Ch, Annual Rate 13.9 13.4 12.8 5.1 1.1 0.4 -0.6 -0.8Federal Government 2.84 2.84 2.84 2.84 2.84 2.84 2.84 2.84

% Ch, Annual Rate 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0State and Local Government 20.12 20.16 20.20 20.24 20.28 20.33 20.37 20.41

% Ch, Annual Rate 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8

Page 11

Table A2.2 (continued)U.S. Nonagricultural Employment by Industry (Millions)Forecast 2020 to 2025

2024Q1 2024Q2 2024Q3 2024Q4 2025Q1 2025Q2 2025Q3 2025Q4Nonfarm Payroll Employment 156.13 157.31 158.37 159.32 160.39 161.27 161.78 162.18


% Ch, Annual Rate 3.8 3.2 2.4 1.9 3.2 2.1 0.8 0.8Durable Manufacturing 7.66 7.75 7.82 7.88 7.98 8.04 8.08 8.11

% Ch, Annual Rate 5.4 4.7 3.8 3.3 4.8 3.4 1.8 1.7Wood Products 0.42 0.43 0.43 0.44 0.45 0.46 0.46 0.47


% Ch, Annual Rate 5.6 4.9 4.1 3.5 3.8 3.6 2.0 1.8Computer and Electronic Products 1.13 1.14 1.14 1.15 1.15 1.15 1.15 1.15

% Ch, Annual Rate 2.0 1.9 1.6 1.4 1.1 0.7 0.1 -0.3Machinery and Electrical Equipment 1.46 1.48 1.49 1.50 1.52 1.53 1.54 1.54

% Ch, Annual Rate 5.5 5.0 3.7 3.0 3.6 2.8 2.2 2.3Transportation Equipment 1.36 1.39 1.41 1.43 1.47 1.49 1.50 1.51

% Ch, Annual Rate 9.1 8.1 6.6 5.5 11.8 5.0 3.1 2.3Other Durables 1.37 1.38 1.38 1.39 1.40 1.41 1.41 1.41

% Ch, Annual Rate 3.8 2.8 2.0 1.6 2.4 2.9 0.3 1.4Nondurable Manufacturing 5.02 5.03 5.04 5.03 5.04 5.04 5.03 5.02

% Ch, Annual Rate 1.5 0.8 0.2 -0.1 0.7 0.0 -0.8 -0.8Food Manufacturing 2.06 2.08 2.09 2.09 2.10 2.11 2.11 2.11


% Ch, Annual Rate 1.1 0.3 -0.5 -0.6 0.3 -0.3 -1.1 -1.0Other Nondurables 2.58 2.57 2.56 2.56 2.55 2.55 2.54 2.53

% Ch, Annual Rate -0.3 -0.8 -1.2 -1.3 -0.3 -0.8 -1.6 -1.6Natural Resources and Mining 0.45 0.45 0.45 0.46 0.46 0.47 0.47 0.48

% Ch, Annual Rate 0.3 0.7 1.7 2.6 3.4 4.4 4.8 5.4Construction 7.25 7.30 7.34 7.40 7.44 7.49 7.53 7.56

% Ch, Annual Rate 2.7 2.5 2.6 2.8 2.4 2.4 2.3 1.9Trade, Transportation, and Utilities 25.61 25.64 25.82 26.00 26.26 26.41 26.55 26.63

% Ch, Annual Rate 1.4 0.5 2.8 2.8 4.0 2.4 2.1 1.2Wholesale Trade 5.53 5.58 5.62 5.65 5.65 5.67 5.69 5.69


% Ch, Annual Rate -0.4 -1.5 3.6 3.9 7.2 3.1 2.9 1.7Trans., Warehousing, and Utilities 5.93 5.96 5.98 5.99 5.99 6.02 6.03 6.04

% Ch, Annual Rate 2.8 2.4 1.1 0.7 0.2 1.6 1.1 0.6Information 2.73 2.77 2.81 2.84 2.86 2.87 2.86 2.83

% Ch, Annual Rate 6.1 5.9 6.1 4.6 2.5 2.4 -1.9 -4.0Publishing Industries 0.69 0.69 0.69 0.68 0.68 0.68 0.67 0.67

% Ch, Annual Rate -0.4 -0.5 -1.4 -1.6 -3.0 -1.1 -2.5 -2.6Other Information 2.04 2.08 2.12 2.16 2.18 2.20 2.19 2.16

% Ch, Annual Rate 8.5 8.1 8.7 6.6 4.3 3.5 -1.8 -4.4Financial Activities 9.23 9.27 9.29 9.29 9.25 9.26 9.26 9.25

% Ch, Annual Rate 2.1 1.7 0.5 0.3 -1.7 0.4 0.0 -0.3Professional and Business Services 25.42 25.94 26.38 26.82 27.48 27.90 28.16 28.33


% Ch, Annual Rate 3.7 3.2 1.8 1.3 -0.3 1.1 0.4 0.1Leisure and Hospitality 16.00 16.15 16.24 16.33 16.37 16.43 16.43 16.52

% Ch, Annual Rate 2.6 3.7 2.5 2.2 1.0 1.3 0.1 2.1Other Services 5.29 5.29 5.27 5.25 5.20 5.19 5.17 5.16

% Ch, Annual Rate 0.0 0.0 -1.2 -1.8 -3.5 -1.3 -0.8 -0.8Federal Government 2.84 2.84 2.84 2.84 2.84 2.84 2.84 2.84


% Ch, Annual Rate 0.8 0.8 0.7 0.7 0.7 0.7 0.7 0.7

Page 12

Table A2.3Washington Nonagricultural Employment by Industry (Thousands)Forecast 2020 to 2025

2018 2019 2020 2021 2022 2023 2024 2025Nonfarm Payroll Employment 3,401.1 3,468.2 3,087.8 3,232.8 3,443.0 3,588.4 3,698.1 3,771.6

% Ch 2.4 2.0 -11.0 4.7 6.5 4.2 3.1 2.0Manufacturing 287.8 293.6 254.9 263.1 278.5 282.3 287.2 290.7

% Ch 1.2 2.0 -13.2 3.2 5.9 1.4 1.8 1.2Durable Manufacturing 202.2 206.8 177.8 176.9 187.3 190.1 193.4 196.2

% Ch 0.9 2.3 -14.0 -0.5 5.9 1.5 1.7 1.4Wood Products 13.0 12.9 10.1 9.6 11.4 11.7 12.1 12.5

% Ch 0.9 -0.4 -22.0 -5.1 18.8 3.1 2.9 3.4Primary and Fabricated Metals 26.1 26.9 21.7 22.7 24.4 25.2 26.5 27.5

% Ch 4.3 2.7 -19.1 4.5 7.4 3.3 5.3 3.9Computer and Electronic Products 19.8 19.8 17.8 19.3 19.8 20.1 21.0 21.7

% Ch 0.9 -0.3 -10.1 8.4 2.5 1.8 4.6 3.3Machinery and Electrical Equipment 21.3 21.3 16.6 18.1 20.2 21.6 23.6 25.4

% Ch 3.0 -0.3 -21.9 8.7 11.5 7.2 9.4 7.4Aerospace 83.9 88.5 78.2 74.0 77.4 77.0 75.3 73.8

% Ch -0.3 5.5 -11.7 -5.3 4.6 -0.6 -2.2 -1.9Other Transportation Equip. 9.9 9.7 8.0 7.6 7.5 7.3 7.1 6.9

% Ch -3.0 -1.9 -16.9 -6.1 -1.3 -2.5 -2.6 -2.2Other Durables 28.1 27.8 25.3 25.7 26.8 27.2 27.8 28.3

% Ch 1.5 -1.1 -8.8 1.7 4.2 1.4 2.2 1.8Nondurable Manufacturing 85.6 86.8 77.1 86.1 91.1 92.2 93.8 94.5

% Ch 2.0 1.4 -11.1 11.7 5.8 1.1 1.8 0.7Food Manufacturing 39.1 39.4 36.8 43.2 46.6 47.2 48.3 48.7

% Ch 2.8 0.9 -6.7 17.5 8.0 1.3 2.3 0.8Paper and Paper Products 7.7 7.8 6.9 7.8 8.1 8.0 8.0 7.9

% Ch -1.2 1.5 -11.4 13.1 3.5 -1.2 0.0 -1.1Other Nondurables 38.9 39.6 33.5 35.1 36.4 37.0 37.5 37.9

% Ch 1.9 1.9 -15.5 5.0 3.7 1.5 1.5 1.1Natural Resources and Mining 6.3 5.9 4.9 5.0 5.4 5.7 5.8 5.7

% Ch 1.1 -6.3 -16.8 3.2 7.5 5.6 1.1 -0.8Construction 213.1 219.4 195.4 187.9 194.8 198.0 199.1 199.7

% Ch 6.7 2.9 -10.9 -3.8 3.7 1.6 0.6 0.3Trade, Transportation, and Utilities 636.0 643.3 566.5 580.0 616.6 616.8 626.7 642.4

% Ch 1.8 1.1 -11.9 2.4 6.3 0.0 1.6 2.5Wholesale Trade 135.6 136.7 112.3 104.7 114.5 122.8 127.0 128.3

% Ch 1.8 0.7 -17.8 -6.8 9.4 7.2 3.4 1.0Retail Trade 385.8 390.3 351.4 375.1 394.3 381.7 385.8 399.8

% Ch 1.9 1.2 -10.0 6.7 5.1 -3.2 1.1 3.6Electronic Shopping and Mail-Order 54.8 63.4 72.5 74.5 76.8 78.7 80.5 82.2% Ch 10.1 15.8 14.2 2.9 3.0 2.5 2.3 2.2Other Retail Trade 331.1 326.9 278.9 300.5 317.6 303.0 305.3 317.5% Ch 0.6 -1.3 -14.7 7.7 5.7 -4.6 0.7 4.0

Trans., Warehousing, and Utilities 114.5 116.3 102.7 100.2 107.8 112.2 113.9 114.3% Ch 1.8 1.5 -11.7 -2.4 7.5 4.2 1.4 0.3

Information 134.2 144.5 135.3 156.3 159.2 158.8 168.9 175.4% Ch 6.3 7.7 -6.4 15.5 1.8 -0.2 6.4 3.9Software Publishers 65.3 70.0 70.1 69.2 71.5 73.1 74.4 75.5

% Ch 6.4 7.1 0.2 -1.3 3.3 2.2 1.8 1.5Other Publishing Industries 5.1 4.8 3.8 2.7 2.9 2.8 2.5 2.1

% Ch -6.8 -6.5 -21.2 -27.7 7.4 -5.5 -10.9 -16.1Other Information 63.8 69.7 61.4 84.4 84.8 82.9 92.0 97.9

% Ch 7.4 9.4 -11.9 37.5 0.4 -2.1 11.0 6.3Financial Activities 157.7 160.5 145.3 142.2 159.2 166.8 168.6 167.1

% Ch 2.4 1.7 -9.5 -2.1 11.9 4.8 1.0 -0.9Professional and Business Services 424.3 434.7 373.5 395.8 465.0 518.3 558.1 590.2

% Ch 2.6 2.4 -14.1 6.0 17.5 11.4 7.7 5.8Education and Health Services 490.2 502.6 452.1 490.8 529.8 579.0 602.4 609.3

% Ch 3.1 2.5 -10.1 8.6 7.9 9.3 4.0 1.1Leisure and Hospitality 341.9 347.9 256.4 296.2 303.4 319.2 330.1 334.3

% Ch 3.1 1.8 -26.3 15.5 2.4 5.2 3.4 1.3Other Services 122.4 128.0 109.8 106.2 112.6 117.7 119.7 120.2

% Ch 2.2 4.6 -14.3 -3.3 6.1 4.5 1.7 0.5Federal Government 74.8 75.7 80.1 78.7 78.9 79.1 79.3 79.5

% Ch 0.0 1.2 5.8 -1.7 0.2 0.2 0.2 0.3State and Local Government 512.4 512.2 513.8 530.6 539.6 546.8 552.4 557.1

% Ch 0.3 0.0 0.3 3.3 1.7 1.3 1.0 0.9

Page 13

Table A2.4Washington Nonagricultural Employment by Industry (Thousands)Forecast 2020 to 2025

2020:1 2020:2 2020:3 2020:4 2021:1 2021:2 2021:3 2021:4Nonfarm Payroll Employment 3,514.4 2,926.7 2,909.1 3,001.1 3,119.7 3,211.9 3,273.1 3,326.6

% Ch, Annual Rate 2.3 -51.9 -2.4 13.3 16.8 12.4 7.8 6.7Manufacturing 292.1 258.1 231.4 238.0 250.7 263.0 265.2 273.3

% Ch, Annual Rate -1.4 -39.0 -35.4 12.0 23.0 21.2 3.4 12.7Durable Manufacturing 204.9 181.8 160.2 164.1 169.8 177.9 177.0 183.0

% Ch, Annual Rate -2.2 -38.0 -39.7 10.2 14.6 20.4 -1.9 14.2Wood Products 13.1 11.8 7.6 7.9 8.7 9.7 9.4 10.6

% Ch, Annual Rate 4.1 -33.8 -82.6 13.5 47.5 54.2 -11.7 63.9Primary and Fabricated Metals 27.0 22.1 18.1 19.8 21.3 23.2 22.4 23.9

% Ch, Annual Rate -0.3 -54.9 -55.4 43.5 35.1 39.8 -12.8 30.0Computer and Electronic Products 18.9 17.3 17.2 17.8 18.4 19.4 19.5 19.8

% Ch, Annual Rate -8.8 -29.3 -2.4 15.0 13.9 24.6 2.4 5.0Machinery and Electrical Equipment 20.6 17.9 12.8 15.1 16.7 18.7 17.7 19.1

% Ch, Annual Rate -1.8 -43.2 -73.6 90.7 51.2 55.3 -18.9 35.9Aerospace 88.3 79.3 73.6 71.7 72.2 73.5 74.8 75.6

% Ch, Annual Rate -2.8 -34.9 -25.8 -9.9 2.8 7.5 7.2 4.8Other Transportation Equip. 9.5 7.8 7.4 7.5 7.6 7.6 7.6 7.5

% Ch, Annual Rate -0.5 -53.6 -20.7 6.3 4.1 0.8 -1.3 -2.9Other Durables 27.6 25.6 23.6 24.4 25.0 25.9 25.7 26.4

% Ch, Annual Rate -1.0 -26.1 -28.7 16.2 9.2 15.0 -3.2 12.5Nondurable Manufacturing 87.1 76.3 71.2 73.9 80.9 85.1 88.2 90.3

% Ch, Annual Rate 0.6 -41.3 -24.2 16.2 43.3 23.0 15.3 9.7Food Manufacturing 39.5 37.3 34.6 35.7 39.9 42.5 44.5 45.9

% Ch, Annual Rate 0.9 -20.1 -26.5 13.1 57.1 28.6 19.9 13.0Paper and Paper Products 7.7 7.0 6.3 6.5 7.3 7.7 8.0 8.2

% Ch, Annual Rate 0.9 -33.7 -35.8 20.2 51.3 26.1 17.3 8.4Other Nondurables 39.9 32.0 30.3 31.7 33.7 34.9 35.7 36.3

% Ch, Annual Rate 0.3 -58.9 -18.8 19.0 27.4 15.9 9.4 6.0Natural Resources and Mining 5.6 4.5 4.6 4.9 5.0 5.1 5.0 5.1

% Ch, Annual Rate -7.6 -58.0 15.3 27.6 8.0 4.2 -4.2 6.0Construction 224.7 173.3 193.6 189.9 188.9 188.3 185.6 188.6

% Ch, Annual Rate 5.9 -64.6 55.7 -7.4 -2.1 -1.2 -5.8 6.8Trade, Transportation, and Utilities 650.8 549.9 529.0 536.1 556.9 576.2 587.7 599.2

% Ch, Annual Rate 2.0 -49.0 -14.4 5.5 16.4 14.6 8.2 8.1Wholesale Trade 138.7 111.7 97.6 101.4 103.1 103.4 104.7 107.5

% Ch, Annual Rate 1.7 -57.9 -41.8 16.7 7.0 1.2 5.1 11.1Retail Trade 395.9 335.6 336.4 337.7 355.9 373.1 382.4 389.0

% Ch, Annual Rate 4.1 -48.3 1.0 1.5 23.3 20.8 10.4 7.1Electronic Shopping and Mail-Order 73.2 71.5 72.2 73.0 73.6 74.3 74.9 75.4% Ch 38.4 -9.0 4.3 4.0 3.7 3.5 3.3 3.1Other Retail Trade 322.7 264.1 264.2 264.8 282.2 298.8 307.5 313.5% Ch -2.2 -55.1 0.1 0.8 29.1 25.7 12.2 8.1

Trans., Warehousing, and Utilities 116.2 102.6 95.0 97.0 97.9 99.7 100.6 102.7% Ch, Annual Rate -4.5 -39.3 -26.6 9.0 3.7 7.3 3.6 8.7

Information 150.5 136.5 121.6 132.4 147.4 155.4 158.9 163.6% Ch, Annual Rate 7.6 -32.4 -36.9 40.4 53.3 23.5 9.6 12.2Software Publishers 73.2 70.0 68.8 68.4 68.5 69.0 69.3 69.9

% Ch, Annual Rate 7.7 -16.0 -6.9 -2.5 0.8 2.9 1.6 3.8Other Publishing Industries 4.5 4.3 3.4 2.9 2.8 2.8 2.7 2.8

% Ch, Annual Rate 2.8 -20.0 -60.2 -44.3 -22.1 1.3 -13.9 14.6Other Information 72.8 62.2 49.4 61.1 76.1 83.6 87.0 90.9

% Ch, Annual Rate 7.8 -47.0 -60.0 133.4 140.3 45.6 17.3 19.1Financial Activities 162.5 148.8 136.0 133.9 138.5 141.5 143.0 145.9

% Ch, Annual Rate 1.4 -29.7 -30.2 -6.0 14.6 8.8 4.3 8.4Professional and Business Services 442.8 360.1 335.5 355.4 373.7 390.0 401.5 417.9

% Ch, Annual Rate 2.5 -56.3 -24.7 26.0 22.2 18.6 12.4 17.3Education and Health Services 509.7 411.6 432.4 454.6 472.6 483.8 503.7 503.0

% Ch, Annual Rate 2.2 -57.5 21.8 22.2 16.8 9.8 17.6 -0.6Leisure and Hospitality 351.3 195.3 226.5 252.7 275.3 294.9 305.5 309.2

% Ch, Annual Rate 0.6 -90.5 81.0 54.9 40.9 31.7 15.2 4.9Other Services 129.0 101.3 104.8 104.0 104.8 105.6 106.4 108.0

% Ch, Annual Rate -0.1 -61.9 14.4 -2.8 3.0 3.1 3.0 6.1Federal Government 76.7 84.3 80.6 78.8 78.7 78.7 78.8 78.8

% Ch, Annual Rate 3.4 46.0 -16.7 -8.4 -0.8 0.2 0.2 0.2State and Local Government 518.7 503.0 513.2 520.2 527.2 529.5 531.8 534.1

% Ch, Annual Rate 3.9 -11.6 8.4 5.5 5.5 1.7 1.8 1.8

Page 14

Table A2.4 (continued)Washington Nonagricultural Employment by Industry (Thousands)Forecast 2020 to 2025





% Ch, Annual Rate 22.1 6.5 6.1 2.1 5.1 0.3 -0.2 4.9Primary and Fabricated Metals 24.3 24.2 24.5 24.6 24.9 25.0 25.2 25.7

% Ch, Annual Rate 6.1 -0.7 4.0 1.7 5.3 2.3 2.8 7.6Computer and Electronic Products 19.8 19.8 19.7 19.7 19.9 20.0 20.2 20.4

% Ch, Annual Rate 0.6 -0.9 -0.4 0.3 2.2 2.9 3.5 5.0Machinery and Electrical Equipment 19.8 20.0 20.3 20.5 21.1 21.4 21.7 22.3

% Ch, Annual Rate 15.1 3.0 5.9 5.8 10.3 6.0 6.4 11.8Aerospace 76.8 77.4 77.7 77.7 77.6 77.2 76.8 76.3

% Ch, Annual Rate 6.3 3.0 1.5 0.3 -0.8 -1.8 -2.3 -2.3Other Transportation Equip. 7.4 7.5 7.5 7.5 7.4 7.3 7.2 7.2

% Ch, Annual Rate -3.6 0.8 1.3 -1.3 -3.4 -4.6 -4.7 -3.1Other Durables 26.7 26.8 26.9 27.0 27.1 27.1 27.2 27.4


% Ch, Annual Rate 2.5 0.7 0.9 0.8 1.2 0.9 1.6 2.6Food Manufacturing 46.4 46.6 46.7 46.9 47.0 47.0 47.3 47.7


% Ch, Annual Rate -1.7 -2.4 -3.1 -2.6 -0.7 -0.4 0.2 1.0Other Nondurables 36.4 36.3 36.5 36.6 36.7 36.9 37.0 37.2

% Ch, Annual Rate 1.1 -0.3 1.3 1.4 1.8 1.5 1.5 2.0Natural Resources and Mining 5.2 5.4 5.5 5.6 5.7 5.7 5.8 5.8

% Ch, Annual Rate 10.8 11.9 11.5 5.1 5.4 4.4 2.5 1.8Construction 191.2 194.6 196.4 197.1 197.4 197.1 198.1 199.3

% Ch, Annual Rate 5.5 7.3 3.8 1.5 0.5 -0.6 1.9 2.4Trade, Transportation, and Utilities 610.0 615.6 621.7 619.0 612.9 615.1 618.1 621.1

% Ch, Annual Rate 7.5 3.7 4.1 -1.7 -3.9 1.4 2.0 2.0Wholesale Trade 110.0 112.1 116.7 119.3 121.0 122.2 123.3 124.5


% Ch, Annual Rate 6.6 1.8 -1.2 -6.7 -8.5 0.3 1.5 1.4Electronic Shopping and Mail-Order 76.0 76.5 77.0 77.5 78.0 78.5 78.9 79.4% Ch 2.9 2.8 2.7 2.6 2.5 2.4 2.4 2.3Other Retail Trade 319.3 320.5 318.8 311.6 302.5 302.3 303.3 304.1% Ch 7.5 1.6 -2.1 -8.8 -11.1 -0.2 1.3 1.2

Trans., Warehousing, and Utilities 104.8 106.4 109.2 110.6 111.3 112.0 112.5 113.1% Ch, Annual Rate 8.4 6.3 11.1 5.1 2.7 2.5 1.8 2.0

Information 162.5 161.5 157.8 154.8 156.3 157.4 159.0 162.4% Ch, Annual Rate -2.5 -2.5 -8.9 -7.4 4.0 2.7 4.1 8.9Software Publishers 70.6 71.2 71.8 72.2 72.6 72.9 73.2 73.5

% Ch, Annual Rate 4.1 3.3 3.5 2.3 1.8 1.9 1.7 1.7Other Publishing Industries 2.9 2.9 3.0 3.0 2.9 2.8 2.7 2.7

% Ch, Annual Rate 18.1 7.3 9.9 -4.4 -9.8 -8.7 -11.1 -11.4Other Information 89.0 87.4 83.0 79.6 80.9 81.7 83.0 86.2

% Ch, Annual Rate -7.9 -7.2 -18.6 -15.3 6.5 3.9 6.9 16.4Financial Activities 151.8 157.1 162.7 165.2 166.1 166.6 167.0 167.6

% Ch, Annual Rate 17.2 14.9 15.0 6.1 2.3 1.3 0.9 1.5Professional and Business Services 440.3 459.3 473.8 486.8 502.8 511.9 523.0 535.4


% Ch, Annual Rate 0.7 15.2 14.7 9.6 8.9 7.7 6.0 6.1Leisure and Hospitality 307.7 301.8 297.9 306.1 312.9 317.0 321.4 325.5

% Ch, Annual Rate -2.0 -7.5 -5.0 11.5 9.1 5.3 5.7 5.2Other Services 109.9 111.8 113.7 115.1 116.2 117.2 118.2 119.1

% Ch, Annual Rate 7.3 7.2 6.9 5.0 3.9 3.6 3.3 3.2Federal Government 78.9 78.9 78.9 79.0 79.0 79.1 79.1 79.1


% Ch, Annual Rate 1.7 1.6 1.5 1.5 1.4 1.2 1.0 1.0

Page 15

Table A2.4 (continued)Washington Nonagricultural Employment by Industry (Thousands)Forecast 2020 to 2025






% Ch, Annual Rate 6.1 5.3 4.7 3.9 4.3 4.0 2.4 2.2Computer and Electronic Products 20.7 20.9 21.2 21.4 21.5 21.7 21.8 21.8

% Ch, Annual Rate 5.1 4.9 4.4 4.1 3.4 2.7 1.7 1.0Machinery and Electrical Equipment 22.9 23.4 23.9 24.3 24.8 25.2 25.6 25.9

% Ch, Annual Rate 10.7 10.0 8.0 7.0 8.0 6.9 6.0 6.2Aerospace 75.9 75.5 75.0 74.6 74.2 73.9 73.6 73.5

% Ch, Annual Rate -2.3 -2.1 -2.2 -2.2 -2.1 -1.9 -1.4 -0.8Other Transportation Equip. 7.1 7.1 7.1 7.0 7.0 7.0 6.9 6.8

% Ch, Annual Rate -1.9 -1.5 -1.9 -2.3 -1.9 -2.3 -2.8 -3.1Other Durables 27.6 27.8 27.9 28.0 28.2 28.3 28.4 28.5


% Ch, Annual Rate 2.4 1.7 1.0 0.6 1.3 0.6 -0.2 -0.1Food Manufacturing 48.0 48.3 48.5 48.6 48.7 48.8 48.7 48.7

% Ch, Annual Rate 3.2 2.3 1.4 0.7 1.3 0.4 -0.5 -0.3Paper and Paper Products 8.0 8.0 8.0 7.9 7.9 7.9 7.9 7.8

% Ch, Annual Rate 0.5 -0.4 -1.2 -1.4 -0.3 -1.1 -2.0 -1.9Other Nondurables 37.4 37.5 37.6 37.6 37.8 37.9 37.9 38.0

% Ch, Annual Rate 1.7 1.3 0.9 0.9 1.6 1.1 0.5 0.5Natural Resources and Mining 5.8 5.8 5.8 5.8 5.8 5.8 5.7 5.7

% Ch, Annual Rate 0.7 0.2 -0.3 0.0 -1.6 -0.3 -1.4 -2.1Construction 199.2 198.9 199.2 199.3 199.5 199.5 199.9 199.9

% Ch, Annual Rate -0.1 -0.7 0.5 0.2 0.5 0.0 0.7 0.0Trade, Transportation, and Utilities 623.0 623.9 627.9 631.9 637.6 641.1 644.4 646.3

% Ch, Annual Rate 1.2 0.6 2.6 2.6 3.7 2.2 2.0 1.2Wholesale Trade 125.7 126.8 127.5 128.0 127.9 128.3 128.5 128.6

% Ch, Annual Rate 4.0 3.5 2.0 1.5 -0.2 1.2 0.8 0.3Retail Trade 383.7 383.2 386.4 389.9 395.8 398.7 401.4 403.3

% Ch, Annual Rate 0.2 -0.6 3.4 3.6 6.2 3.0 2.8 1.8Electronic Shopping and Mail-Order 79.8 80.3 80.7 81.2 81.6 82.0 82.5 82.9% Ch 2.3 2.2 2.2 2.2 2.2 2.1 2.1 2.1Other Retail Trade 303.9 302.9 305.7 308.7 314.2 316.7 319.0 320.4% Ch -0.3 -1.3 3.8 4.0 7.2 3.2 3.0 1.8

Trans., Warehousing, and Utilities 113.5 113.9 114.0 114.1 114.0 114.2 114.4 114.5% Ch, Annual Rate 1.6 1.3 0.5 0.1 -0.3 0.9 0.7 0.2

Information 165.0 167.6 170.3 172.6 174.3 176.0 176.1 175.4% Ch, Annual Rate 6.5 6.4 6.7 5.5 3.9 3.8 0.2 -1.5Software Publishers 73.9 74.2 74.5 74.8 75.1 75.4 75.6 75.9

% Ch, Annual Rate 1.9 1.9 1.6 1.6 1.3 1.7 1.4 1.4Other Publishing Industries 2.6 2.5 2.4 2.3 2.2 2.1 2.0 1.9

% Ch, Annual Rate -9.6 -10.1 -13.5 -14.3 -19.4 -13.8 -19.3 -20.5Other Information 88.5 90.8 93.4 95.5 97.0 98.4 98.4 97.6

% Ch, Annual Rate 11.0 10.8 11.7 9.4 6.7 6.0 -0.2 -3.3Financial Activities 168.3 168.7 168.7 168.5 167.4 167.3 167.0 166.6

% Ch, Annual Rate 1.6 1.1 -0.1 -0.5 -2.6 -0.3 -0.6 -1.0Professional and Business Services 545.5 554.5 562.4 570.0 581.4 588.8 593.7 597.0


% Ch, Annual Rate 3.2 2.9 1.9 1.5 0.3 1.3 0.8 0.5Leisure and Hospitality 327.1 329.5 331.1 332.6 333.3 334.2 334.3 335.6

% Ch, Annual Rate 2.0 2.9 2.0 1.8 0.9 1.1 0.1 1.6Other Services 119.3 119.6 119.8 119.9 120.0 120.1 120.3 120.5

% Ch, Annual Rate 0.8 0.9 0.6 0.5 0.1 0.6 0.7 0.6Federal Government 79.2 79.2 79.3 79.3 79.4 79.4 79.5 79.5


% Ch, Annual Rate 1.1 1.0 0.9 0.9 0.9 0.8 0.7 0.7

Page 16

Table A3.1U.S. Personal Income by Component (Billions of Dollars)Forecast 2020 to 2025

2018 2019 2020 2021 2022 2023 2024 2025

Personal Income 17,819.2 18,602.3 18,815.3 19,198.9 19,824.7 20,622.5 21,532.6 22,540.4 % Ch 5.6 4.4 1.1 2.0 3.3 4.0 4.4 4.7

Total Wage and Salary Disbursements 8,888.5 9,297.8 8,526.8 9,223.0 9,861.4 10,366.3 10,823.7 11,329.5 % Ch 5.0 4.6 -8.3 8.2 6.9 5.1 4.4 4.7

Nonwage Personal Income 8,930.7 9,304.6 10,288.4 9,975.9 9,963.3 10,256.2 10,708.9 11,210.9 % Ch 6.1 4.2 10.6 -3.0 -0.1 2.9 4.4 4.7

Supplements to Wages and Salaries 2,040.0 2,123.1 1,945.3 2,090.1 2,241.8 2,373.5 2,475.9 2,587.0 % Ch 4.6 4.1 -8.4 7.4 7.3 5.9 4.3 4.5

Proprietor's Income 1,588.8 1,658.2 1,667.5 1,709.1 1,672.8 1,700.8 1,750.2 1,839.0 % Ch 4.6 4.4 0.6 2.5 -2.1 1.7 2.9 5.1 Farm 27.2 32.0 18.3 29.8 73.0 75.8 60.3 60.7

% Ch … … … … … … … … Nonfarm 1,561.6 1,626.3 1,649.3 1,679.3 1,599.8 1,625.1 1,689.9 1,778.4

% Ch 5.5 4.1 1.4 1.8 -4.7 1.6 4.0 5.2

Less: Contribution For Govt. Soc. Ins. 1,356.5 1,419.5 1,304.4 1,403.4 1,499.2 1,577.9 1,650.6 1,729.9 % Ch 4.4 4.6 -8.1 7.6 6.8 5.2 4.6 4.8

Dividends/Int./Rent 3,686.9 3,770.8 3,742.9 3,736.6 3,749.1 3,893.8 4,135.0 4,348.3 % Ch 8.4 2.3 -0.7 -0.2 0.3 3.9 6.2 5.2

Transfer Payments 2,971.5 3,171.9 4,237.1 3,843.5 3,798.8 3,865.9 3,998.3 4,166.4 % Ch 4.3 6.7 33.6 -9.3 -1.2 1.8 3.4 4.2

Page 17

Table A3.2U.S. Personal Income by Component (Billions of Dollars)Forecast 2020 to 2025

2020:1 2020:2 2020:3 2020:4 2021:1 2021:2 2021:3 2021:4

Personal Income 18,916.2 18,477.2 19,032.6 18,835.0 18,921.2 19,166.7 19,305.0 19,403.0 % Ch, Annual Rate 2.0 -9.0 12.6 -4.1 1.8 5.3 2.9 2.0

Total Wage and Salary Disbursements 9,398.3 8,126.9 8,113.2 8,468.9 8,869.9 9,167.0 9,358.2 9,497.0 % Ch, Annual Rate 0.1 -44.1 -0.7 18.7 20.3 14.1 8.6 6.1

Nonwage Personal Income 9,517.9 10,350.3 10,919.4 10,366.1 10,051.3 9,999.6 9,946.8 9,905.9 % Ch, Annual Rate 4.0 39.8 23.9 -18.8 -11.6 -2.0 -2.1 -1.6

Supplements to Wages and Salaries 2,160.9 1,861.2 1,843.7 1,915.3 2,009.1 2,077.0 2,120.9 2,153.1 % Ch, Annual Rate 1.7 -45.0 -3.7 16.5 21.1 14.2 8.7 6.2

Proprietor's Income 1,698.5 1,520.0 1,744.2 1,707.3 1,722.2 1,726.6 1,714.3 1,673.5 % Ch, Annual Rate 0.7 -35.9 73.4 -8.2 3.5 1.0 -2.8 -9.2 Farm 37.3 14.9 9.1 11.7 17.8 24.8 33.0 43.8

% Ch, Annual Rate … … … … … … … … Nonfarm 1,661.2 1,505.2 1,735.1 1,695.6 1,704.4 1,701.8 1,681.3 1,629.7

% Ch, Annual Rate 1.9 -32.6 76.6 -8.8 2.1 -0.6 -4.7 -11.7

Less: Contribution For Govt. Soc. Ins. 1,444.8 1,246.6 1,237.7 1,288.5 1,353.3 1,396.1 1,422.7 1,441.5 % Ch, Annual Rate 3.3 -44.6 -2.8 17.5 21.7 13.3 7.9 5.4

Dividends/Int./Rent 3,815.4 3,720.8 3,703.1 3,732.5 3,747.0 3,743.4 3,725.1 3,730.8 % Ch, Annual Rate 2.7 -9.6 -1.9 3.2 1.6 -0.4 -1.9 0.6

Transfer Payments 3,287.9 4,495.0 4,866.0 4,299.5 3,926.2 3,848.7 3,809.2 3,790.0 % Ch, Annual Rate 8.7 249.3 37.3 -39.1 -30.5 -7.7 -4.0 -2.0

Page 18

Table A3.2 (continued)U.S. Personal Income by Component (Billions of Dollars)Forecast 2020 to 2025

2022:1 2022:2 2022:3 2022:4 2023:1 2023:2 2023:3 2023:4

Personal Income 19,563.5 19,730.0 19,913.1 20,092.3 20,317.4 20,511.3 20,715.6 20,945.5 % Ch, Annual Rate 3.4 3.4 3.8 3.6 4.6 3.9 4.0 4.5

Total Wage and Salary Disbursements 9,633.2 9,787.0 9,942.6 10,082.8 10,213.6 10,311.9 10,410.1 10,529.6 % Ch, Annual Rate 5.9 6.5 6.5 5.8 5.3 3.9 3.9 4.7

Nonwage Personal Income 9,930.3 9,943.0 9,970.5 10,009.5 10,103.8 10,199.4 10,305.5 10,416.0 % Ch, Annual Rate 1.0 0.5 1.1 1.6 3.8 3.8 4.2 4.4

Supplements to Wages and Salaries 2,187.2 2,222.6 2,260.5 2,296.8 2,333.9 2,362.7 2,386.6 2,410.7 % Ch, Annual Rate 6.5 6.6 7.0 6.6 6.6 5.0 4.1 4.1

Proprietor's Income 1,664.5 1,668.9 1,679.4 1,678.3 1,688.4 1,695.7 1,704.6 1,714.6 % Ch, Annual Rate -2.1 1.1 2.5 -0.2 2.4 1.7 2.1 2.4 Farm 57.3 70.6 80.0 84.1 83.3 78.7 73.1 68.0


% Ch, Annual Rate -5.4 -2.2 0.3 -1.3 2.8 3.0 3.6 3.7

Less: Contribution For Govt. Soc. Ins. 1,466.8 1,488.6 1,510.8 1,530.6 1,556.1 1,570.0 1,584.1 1,601.3 % Ch, Annual Rate 7.2 6.1 6.1 5.4 6.8 3.6 3.6 4.4

Dividends/Int./Rent 3,740.4 3,741.1 3,745.6 3,769.5 3,810.4 3,860.9 3,919.9 3,984.1 % Ch, Annual Rate 1.0 0.1 0.5 2.6 4.4 5.4 6.2 6.7

Transfer Payments 3,805.1 3,799.0 3,795.7 3,795.5 3,827.1 3,850.1 3,878.5 3,908.0 % Ch, Annual Rate 1.6 -0.6 -0.3 0.0 3.4 2.4 3.0 3.1

Page 19

Table A3.2 (continued)U.S. Personal Income by Component (Billions of Dollars)Forecast 2020 to 2025

2024:1 2024:2 2024:3 2024:4 2025:1 2025:2 2025:3 2025:4

Personal Income 21,180.6 21,415.5 21,649.3 21,885.1 22,169.2 22,428.1 22,667.1 22,897.2 % Ch, Annual Rate 4.6 4.5 4.4 4.4 5.3 4.8 4.3 4.1

Total Wage and Salary Disbursements 10,647.9 10,766.0 10,882.3 10,998.7 11,142.0 11,278.8 11,394.7 11,502.3 % Ch, Annual Rate 4.6 4.5 4.4 4.3 5.3 5.0 4.2 3.8

Nonwage Personal Income 10,532.7 10,649.5 10,767.0 10,886.4 11,027.2 11,149.3 11,272.4 11,394.9 % Ch, Annual Rate 4.6 4.5 4.5 4.5 5.3 4.5 4.5 4.4

Supplements to Wages and Salaries 2,438.4 2,463.2 2,488.3 2,513.8 2,544.8 2,574.3 2,602.1 2,626.6 % Ch, Annual Rate 4.7 4.1 4.1 4.2 5.0 4.7 4.4 3.8

Proprietor's Income 1,725.6 1,741.1 1,758.3 1,776.0 1,800.9 1,827.1 1,852.6 1,875.6 % Ch, Annual Rate 2.6 3.6 4.0 4.1 5.7 6.0 5.7 5.0 Farm 63.8 60.8 58.8 57.9 58.6 59.9 61.3 63.0


% Ch, Annual Rate 3.7 4.5 4.7 4.5 5.7 5.9 5.6 4.8

Less: Contribution For Govt. Soc. Ins. 1,625.3 1,642.4 1,659.1 1,675.7 1,703.3 1,722.9 1,739.2 1,754.1 % Ch, Annual Rate 6.1 4.3 4.1 4.1 6.8 4.7 3.8 3.5

Dividends/Int./Rent 4,046.9 4,107.4 4,164.5 4,221.2 4,276.1 4,325.1 4,371.7 4,420.4 % Ch, Annual Rate 6.5 6.1 5.7 5.6 5.3 4.7 4.4 4.5

Transfer Payments 3,947.2 3,980.3 4,014.9 4,051.0 4,108.6 4,145.7 4,185.1 4,226.3 % Ch, Annual Rate 4.1 3.4 3.5 3.6 5.8 3.7 3.9 4.0

Page 20

Table A3.3Washington Personal Income by Component (Billions of Dollars)Forecast 2020 to 2025

2018 2019 2020 2021 2022 2023 2024 2025

Personal Income 467.399 494.189 504.496 514.081 530.662 552.700 578.895 606.983 % Ch 7.5 5.7 2.1 1.9 3.2 4.2 4.7 4.9

Total Wage and Salary Disbursements 237.156 253.582 239.514 256.478 272.847 286.294 299.216 313.022 % Ch 8.7 6.9 -5.5 7.1 6.4 4.9 4.5 4.6

Manufacturing 22.833 23.910 20.993 22.443 23.735 24.177 24.729 25.517 % Ch 5.3 4.7 -12.2 6.9 5.8 1.9 2.3 3.2 Durable Manufacturing 17.976 18.844 16.329 17.071 18.045 18.377 18.756 19.355

% Ch 5.3 4.8 -13.4 4.5 5.7 1.8 2.1 3.2 Nondurable Manufacturing 4.857 5.065 4.665 5.372 5.690 5.800 5.973 6.161

% Ch 5.5 4.3 -7.9 15.2 5.9 1.9 3.0 3.2

Nonmanufacturing 207.226 222.334 211.251 226.365 241.054 253.719 265.761 278.440 % Ch 9.4 7.3 -5.0 7.2 6.5 5.3 4.7 4.8

Other Private Wages 1.339 1.338 1.223 1.317 1.405 1.472 1.532 1.595 % Ch 8.0 -0.1 -8.6 7.7 6.7 4.7 4.1 4.1

Farm Wages 1.490 1.581 1.445 1.600 1.748 1.867 1.978 2.095 % Ch 0.6 6.1 -8.6 10.7 9.3 6.8 6.0 5.9

Military Wages 4.269 4.421 4.602 4.753 4.905 5.059 5.215 5.375 % Ch 2.0 3.6 4.1 3.3 3.2 3.1 3.1 3.1

Nonwage Personal Income 230.243 240.606 264.982 257.603 257.815 266.406 279.679 293.961 % Ch 6.3 4.5 10.1 -2.8 0.1 3.3 5.0 5.1

Supplements to Wages and Salaries 52.360 55.360 51.582 54.946 58.727 62.065 64.829 67.752 % Ch 5.7 5.7 -6.8 6.5 6.9 5.7 4.5 4.5

Proprietor's Income 36.045 37.697 37.893 38.139 36.881 37.408 38.487 40.327 % Ch 2.0 4.6 0.5 0.6 -3.3 1.4 2.9 4.8 Farm 1.902 2.112 1.352 1.008 1.702 1.747 1.486 1.492

% Ch … … … … … … … … Nonfarm 34.143 35.584 36.541 37.131 35.179 35.660 37.001 38.835

% Ch 3.6 4.2 2.7 1.6 -5.3 1.4 3.8 5.0

Less: Contribution For Govt. Soc. Ins. 38.088 40.433 37.803 40.258 42.784 44.862 46.849 48.949 % Ch 5.4 6.2 -6.5 6.5 6.3 4.9 4.4 4.5

Plus: Residence Adjustment 4.324 4.452 3.959 4.367 4.741 5.037 5.305 5.601 % Ch 2.1 3.0 -11.1 10.3 8.6 6.2 5.3 5.6

Dividends/Int./Rent 109.752 112.664 112.384 112.575 113.314 118.012 125.699 132.650 % Ch 8.7 2.7 -0.2 0.2 0.7 4.1 6.5 5.5

Transfer Payments 65.849 70.866 96.967 87.834 86.936 88.746 92.208 96.581 % Ch 5.0 7.6 36.8 -9.4 -1.0 2.1 3.9 4.7 State U.I. Benefits 0.978 0.949 9.570 9.885 6.735 4.079 2.271 1.160

% Ch -2.2 -3.0 908.6 3.3 -31.9 -39.4 -44.3 -48.9 Other Transfers 64.871 69.917 87.396 77.950 80.201 84.667 89.937 95.421

% Ch 5.1 7.8 25.0 -10.8 2.9 5.6 6.2 6.1

Page 21

Table A3.4Washington Personal Income by Component (Billions of Dollars)Forecast 2020 to 2025

2020:1 2020:2 2020:3 2020:4 2021:1 2021:2 2021:3 2021:4

Personal Income 504.635 497.995 509.686 505.667 508.076 513.258 515.764 519.226 % Ch, Annual Rate 2.0 -5.2 9.7 -3.1 1.9 4.1 2.0 2.7

Total Wage and Salary Disbursements 258.150 231.235 229.887 238.782 248.683 255.118 258.934 263.176 % Ch, Annual Rate -0.2 -35.6 -2.3 16.4 17.6 10.8 6.1 6.7

Manufacturing 21.776 21.746 19.941 20.510 21.497 22.444 22.612 23.218 % Ch, Annual Rate -31.2 -0.6 -29.3 11.9 20.7 18.8 3.0 11.2 Durable Manufacturing 16.692 17.139 15.564 15.920 16.451 17.129 17.110 17.592

% Ch, Annual Rate -38.2 11.2 -32.0 9.5 14.0 17.5 -0.4 11.7 Nondurable Manufacturing 5.085 4.607 4.377 4.590 5.046 5.315 5.502 5.626

% Ch, Annual Rate -0.1 -32.6 -18.5 20.9 46.1 23.1 14.8 9.4

Nonmanufacturing 228.866 202.359 202.805 210.974 219.683 225.041 228.594 232.144 % Ch, Annual Rate 3.5 -38.9 0.9 17.1 17.6 10.1 6.5 6.4

Other Private Wages 1.342 1.173 1.162 1.214 1.272 1.310 1.331 1.354 % Ch, Annual Rate -1.8 -41.6 -3.8 19.1 20.7 12.3 6.6 7.2

Farm Wages 1.613 1.370 1.358 1.438 1.528 1.587 1.623 1.662 % Ch, Annual Rate -1.2 -47.9 -3.7 25.8 27.5 16.4 9.3 10.0

Military Wages 4.553 4.586 4.622 4.646 4.703 4.737 4.774 4.798 % Ch, Annual Rate 5.6 2.9 3.2 2.1 5.0 2.9 3.2 2.0

Nonwage Personal Income 246.485 266.760 279.799 266.885 259.393 258.140 256.830 256.050 % Ch, Annual Rate 4.4 37.2 21.0 -17.2 -10.8 -1.9 -2.0 -1.2

Supplements to Wages and Salaries 56.794 49.655 49.056 50.824 53.131 54.638 55.556 56.460 % Ch, Annual Rate 3.1 -41.6 -4.7 15.2 19.4 11.8 6.9 6.7

Proprietor's Income 38.584 34.677 39.725 38.585 38.680 38.582 38.146 37.148 % Ch, Annual Rate -0.1 -34.8 72.2 -11.0 1.0 -1.0 -4.4 -10.1 Farm 2.036 1.530 0.999 0.841 0.850 0.925 1.042 1.214

% Ch, Annual Rate … … … … … … … … Nonfarm 36.548 33.147 38.726 37.744 37.830 37.658 37.104 35.933

% Ch, Annual Rate 2.4 -32.3 86.3 -9.8 0.9 -1.8 -5.8 -12.0

Less: Contribution For Govt. Soc. Ins. 41.571 36.403 35.926 37.311 39.083 40.089 40.637 41.223 % Ch, Annual Rate 4.6 -41.2 -5.1 16.3 20.4 10.7 5.6 5.9

Plus: Residence Adjustment 4.471 3.724 3.716 3.925 4.160 4.334 4.446 4.528 % Ch, Annual Rate 0.1 -51.8 -0.8 24.4 26.2 17.9 10.8 7.5

Dividends/Int./Rent 114.398 111.670 111.243 112.227 112.765 112.730 112.271 112.533 % Ch, Annual Rate 3.3 -9.2 -1.5 3.6 1.9 -0.1 -1.6 0.9

Transfer Payments 73.809 103.437 111.985 98.636 89.740 87.945 87.048 86.604 % Ch, Annual Rate 10.1 285.7 37.4 -39.8 -31.5 -7.8 -4.0 -2.0 State U.I. Benefits 1.675 10.000 13.710 12.897 11.395 10.171 9.319 8.653

% Ch, Annual Rate 1,084.5 ##### 253.3 -21.7 -39.1 -36.5 -29.6 -25.6 Other Transfers 72.134 93.437 98.275 85.739 78.345 77.773 77.730 77.951

% Ch, Annual Rate 5.6 181.5 22.4 -42.1 -30.3 -2.9 -0.2 1.1

Page 22

Table A3.4 (continued)Washington Personal Income by Component (Billions of Dollars)Forecast 2020 to 2025

2022:1 2022:2 2022:3 2022:4 2023:1 2023:2 2023:3 2023:4


Total Wage and Salary Disbursements 267.039 271.270 275.015 278.065 281.829 284.561 287.506 291.279 % Ch, Annual Rate 6.0 6.5 5.6 4.5 5.5 3.9 4.2 5.4

Manufacturing 23.533 23.658 23.815 23.933 24.077 24.127 24.174 24.329 % Ch, Annual Rate 5.5 2.1 2.7 2.0 2.4 0.8 0.8 2.6 Durable Manufacturing 17.873 17.983 18.116 18.208 18.321 18.349 18.366 18.471


% Ch, Annual Rate 2.4 1.1 1.7 1.8 2.2 1.5 2.1 3.4

Nonmanufacturing 235.581 239.592 243.090 245.954 249.465 252.076 254.897 258.438 % Ch, Annual Rate 6.1 7.0 6.0 4.8 5.8 4.3 4.6 5.7

Other Private Wages 1.375 1.397 1.417 1.432 1.451 1.463 1.477 1.496 % Ch, Annual Rate 6.2 6.7 5.6 4.3 5.4 3.5 3.8 5.1

Farm Wages 1.697 1.735 1.768 1.795 1.828 1.852 1.877 1.910 % Ch, Annual Rate 8.7 9.3 7.9 6.2 7.6 5.3 5.6 7.2


Nonwage Personal Income 256.793 257.215 258.014 259.237 261.910 264.719 267.849 271.146 % Ch, Annual Rate 1.2 0.7 1.2 1.9 4.2 4.4 4.8 5.0

Supplements to Wages and Salaries 57.384 58.309 59.207 60.009 61.008 61.739 62.396 63.117 % Ch, Annual Rate 6.7 6.6 6.3 5.5 6.8 4.9 4.3 4.7

Proprietor's Income 36.843 36.837 36.972 36.874 37.082 37.269 37.510 37.771 % Ch, Annual Rate -3.2 -0.1 1.5 -1.1 2.3 2.0 2.6 2.8 Farm 1.440 1.661 1.820 1.889 1.875 1.796 1.702 1.617


% Ch, Annual Rate -5.8 -2.5 -0.3 -1.9 2.6 3.1 3.8 3.9

Less: Contribution For Govt. Soc. Ins. 41.951 42.561 43.100 43.525 44.255 44.619 45.019 45.554 % Ch, Annual Rate 7.3 5.9 5.2 4.0 6.9 3.3 3.6 4.8

Plus: Residence Adjustment 4.607 4.697 4.789 4.871 4.947 5.005 5.062 5.132 % Ch, Annual Rate 7.2 8.1 8.0 7.1 6.4 4.7 4.7 5.6

Dividends/Int./Rent 112.911 113.026 113.255 114.064 115.381 116.981 118.833 120.856 % Ch, Annual Rate 1.4 0.4 0.8 2.9 4.7 5.7 6.5 7.0

Transfer Payments 86.999 86.908 86.892 86.945 87.747 88.344 89.066 89.824 % Ch, Annual Rate 1.8 -0.4 -0.1 0.2 3.7 2.8 3.3 3.4 State U.I. Benefits 7.930 7.114 6.303 5.593 4.937 4.349 3.785 3.244

% Ch, Annual Rate -29.5 -35.2 -38.4 -38.0 -39.3 -39.7 -42.6 -46.1 Other Transfers 79.069 79.794 80.588 81.352 82.810 83.995 85.281 86.580

% Ch, Annual Rate 5.9 3.7 4.0 3.8 7.4 5.8 6.3 6.2

Page 23

Table A3.4 (continued)Washington Personal Income by Component (Billions of Dollars)Forecast 2020 to 2025

2024:1 2024:2 2024:3 2024:4 2025:1 2025:2 2025:3 2025:4


Total Wage and Salary Disbursements 294.418 297.573 300.819 304.053 307.935 311.659 314.845 317.650 % Ch, Annual Rate 4.4 4.4 4.4 4.4 5.2 4.9 4.2 3.6

Manufacturing 24.488 24.653 24.808 24.966 25.193 25.416 25.622 25.836 % Ch, Annual Rate 2.6 2.7 2.5 2.6 3.7 3.6 3.3 3.4 Durable Manufacturing 18.579 18.698 18.813 18.933 19.101 19.273 19.437 19.609


% Ch, Annual Rate 3.5 3.2 2.7 2.6 4.0 3.4 2.7 2.8

Nonmanufacturing 261.320 264.232 267.242 270.251 273.797 277.212 280.112 282.641 % Ch, Annual Rate 4.5 4.5 4.6 4.6 5.4 5.1 4.2 3.7

Other Private Wages 1.510 1.525 1.540 1.554 1.572 1.589 1.603 1.615 % Ch, Annual Rate 4.0 3.9 4.0 3.8 4.8 4.4 3.5 2.9

Farm Wages 1.937 1.964 1.992 2.019 2.052 2.084 2.111 2.134 % Ch, Annual Rate 5.8 5.7 5.7 5.6 6.7 6.3 5.2 4.5


Nonwage Personal Income 274.548 277.959 281.375 284.835 288.771 292.227 295.691 299.155 % Ch, Annual Rate 5.1 5.1 5.0 5.0 5.6 4.9 4.8 4.8

Supplements to Wages and Salaries 63.847 64.488 65.155 65.828 66.663 67.432 68.151 68.762 % Ch, Annual Rate 4.7 4.1 4.2 4.2 5.2 4.7 4.3 3.6

Proprietor's Income 37.982 38.293 38.653 39.019 39.529 40.072 40.613 41.093 % Ch, Annual Rate 2.3 3.3 3.8 3.8 5.3 5.6 5.5 4.8 Farm 1.545 1.493 1.460 1.445 1.457 1.479 1.502 1.532


% Ch, Annual Rate 3.2 4.0 4.3 4.2 5.4 5.6 5.5 4.7

Less: Contribution For Govt. Soc. Ins. 46.189 46.626 47.071 47.511 48.261 48.780 49.201 49.556 % Ch, Annual Rate 5.7 3.8 3.9 3.8 6.5 4.4 3.5 2.9

Plus: Residence Adjustment 5.202 5.271 5.339 5.407 5.491 5.571 5.639 5.702 % Ch, Annual Rate 5.5 5.4 5.3 5.2 6.4 6.0 5.0 4.6

Dividends/Int./Rent 122.856 124.800 126.650 128.492 130.279 131.887 133.418 135.014 % Ch, Annual Rate 6.8 6.5 6.1 5.9 5.7 5.0 4.7 4.9

Transfer Payments 90.850 91.734 92.649 93.600 95.069 96.045 97.071 98.140 % Ch, Annual Rate 4.6 3.9 4.1 4.2 6.4 4.2 4.3 4.5 State U.I. Benefits 2.813 2.430 2.081 1.762 1.489 1.232 1.020 0.901

% Ch, Annual Rate -43.5 -44.3 -46.2 -48.6 -48.9 -53.3 -52.9 -39.2 Other Transfers 88.037 89.304 90.568 91.838 93.579 94.813 96.051 97.239

% Ch, Annual Rate 6.9 5.9 5.8 5.7 7.8 5.4 5.3 5.0

Page 24

economic forecast calendar year summary tables · washington state economic and revenue forecast...

Documents