Say it all together, “Spokane’s unemployment rate is 3.0%.” The continued run at an historically low level comes from the most recent report provided in June 2023 and it’s just a tiny jump from 2.9% from the previous month.
Even more impressive – the workforce in our region has grown by approximately 8,000 newly employed community members. The formula is… simple. Approximately half of the jobs created can be attributed to an increase in the labor force and the other half, well, is a direct result of the low unemployment rate.
Yet, even amidst the thriving growth, Spokane County’s business landscape faces a perplexing challenge: the quest to find and hire skilled workers. Diving deeper into the numbers, Spokane County hosts three online job postings for every individual currently searching for their next career. This undeniable demand for a dedicated workforce paints a vivid picture of the present dilemma.
A key factor fanning the flames of this labor conundrum is the growing force of the “silver tsunami”. Labor market tightness finds its muse in the graceful retirement of experienced professionals, a trend that will persist in the years to come. A national demographical shift accentuates this theme – as the calendar pages flip, more people will embrace their workforce exit than those arriving into adulthood at 18 years old.
Beyond the challenges, Spokane stands as a beacon of prosperity, projecting an aura of robust job growth spanning diverse industries. The opportunity stretches across the region’s targeted industries of healthcare, construction, transportation & warehousing, and the surge of professional services, which includes information technology and software development. Should the region’s population and labor force continue their upward trajectory, these four sectors alone are poised to draw nearly 10,000 new jobs over the upcoming half-decade, painting a vivid picture of potential and progress for our recovering community.
Spokane County’s workforce narrative unfolds as a tale of bookends: one steeped in the triumph of an economy firing on all cylinders, the other an ode to the challenges presented by the shifting tides of demographics and workforce dynamics. It is a saga that resonates not only locally but mirrors the dance of economics and demographics on the national stage. As Spokane pens the next pages of its economic journey, we’ll continue to provide access to individuals searching for employment opportunities, technical training programs, and life-changing services provided by the dedicated staff at the WorkSource Spokane One-Stop Campus.
Together, we can achieve a harmonious balance between growth and adaptation as we take Spokane County to new economic heights.
Michael McBride is the Spokane Workforce Council’s Business & Industry Analyst. Request a customized workforce report for your business by reaching out to him via email: mmcbride@spokaneworkforce.org.
The Spokane Workforce Council is an equal opportunity employer/program. Auxiliary aids and services are available to individuals with disabilities upon request. Washington Relay: 711.
