Overall I'd say Seattle Minimum Wage (one of the highest in the nation) is a success. Figure 12 shows a 63% satisfaction rate. But it would be great more work to help the 30% still looking for more income. Remember when this was still being debated, there was a big chorus singing this would crash Seattle's small business and spike unemployment - Well so far so good, see below.
Here is a perplexity table showing Seattle unemployment faring better than other tech centers and national averages.
Unemployment Rate Table (2021–2025)
Year Seattle San Francisco Boston US National Average
2021 3.3% 5.7% 5.1% 5.3%
2022 2.7% 3.8% 3.7% 3.6%
2023 3.5% 3.9% 3.3% 3.7%
2024 3.7% 4.2% 3.7% 4.0%
2025 3.7% 3.9% 4.4% 4.1%
*Values are rounded annual averages based on monthly data from the Bureau of Labor Statistics and regional sources.
I remember the 80's when economists plugged 5% as a healthy unemployment rate. Now I hear 4% is the Feds new number. Seattle is below that, so the big picture looks good, but the marginal workers need more help.
I think the real problem around here is the cost of housing. I suspect the tech boom has priced the lower wage workers out the housing market. I don't think the free market is going to provide a housing solution to the growing income inequality in our region, but maybe someday return to company towns? Who knows, but in the meantime, it wouldn't hurt to issue more manciple bonds for low income housing in designated regions.
Thank-you for following this subject at the local Seattle area. I'm fascinated by your studies. Keep up the good work!
Overall I'd say Seattle Minimum Wage (one of the highest in the nation) is a success. Figure 12 shows a 63% satisfaction rate. But it would be great more work to help the 30% still looking for more income. Remember when this was still being debated, there was a big chorus singing this would crash Seattle's small business and spike unemployment - Well so far so good, see below.
Here is a perplexity table showing Seattle unemployment faring better than other tech centers and national averages.
Unemployment Rate Table (2021–2025)
Year Seattle San Francisco Boston US National Average
2021 3.3% 5.7% 5.1% 5.3%
2022 2.7% 3.8% 3.7% 3.6%
2023 3.5% 3.9% 3.3% 3.7%
2024 3.7% 4.2% 3.7% 4.0%
2025 3.7% 3.9% 4.4% 4.1%
*Values are rounded annual averages based on monthly data from the Bureau of Labor Statistics and regional sources.
I remember the 80's when economists plugged 5% as a healthy unemployment rate. Now I hear 4% is the Feds new number. Seattle is below that, so the big picture looks good, but the marginal workers need more help.
I think the real problem around here is the cost of housing. I suspect the tech boom has priced the lower wage workers out the housing market. I don't think the free market is going to provide a housing solution to the growing income inequality in our region, but maybe someday return to company towns? Who knows, but in the meantime, it wouldn't hurt to issue more manciple bonds for low income housing in designated regions.
Thank-you for following this subject at the local Seattle area. I'm fascinated by your studies. Keep up the good work!