The local economic recovery may be pausing as the pandemic drags on. That’s what multiple data trends are indicating.
Growth in new businesses in Washington state had been climbing past last year’s levels for much of July, but it has stagnated the last couple of weeks. The pace of growth nationwide — which is much faster than the state’s — has been falling in the last month.
And as new business growth has leveled off in the state, job openings posted in the Seattle area have barely risen recently while listings nationwide have begun to drop.
Meanwhile, the torrid pace of home sales and new listings in 23 Washington counties has cooled a bit lately, though both metrics remain far ahead of last year’s levels.
The growth in travelers passing through Seattle-Tacoma International Airport is starting to slow as well after a steady rise from mid-April through early July.