The signals on Washington’s economic recovery from the shutdown induced by COVD-19 are a mixed bag.
Last week Washingtonians filed 19,574 new claims for unemployment benefits, a 6.4% increase from the week before. Weakness in the hospitality and travel sectors was underscored by news that Ivar’s is closing its famous full-service waterfront restaurants, Acres of Clams and Salmon House, until the spring, in hopes that a few months hence the downtown workers, sports fans and tourists will all return.
Applications for new business licenses, though they remain ahead of 2019, have fallen off in recent weeks. And yet, home sales in Washington continue more briskly than last year (see below).
Here’s a look at the indicators we are following.