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Puget Sound Office First Quarter 2009:
Weathering the Recessionary Storm
The Puget Sound has remained comparatively resilient during the economic domino effect that has marred so many other markets over the last four quarters. Currently, Puget Sound has a 9.4% unemployment rate, up 0.3% from first quarter. From May 2008 to May 2009 the state lost 116,000 jobs, and it is currently estimated that there are 327,430 unemployed people in Washington. It is imperative that local corporate giants and large office users like Microsoft, Boeing, Amazon.com, Starbucks and others in the high-tech and service industries remain viable in order to help soften the current economic blow. Despite the Puget Sound’s rise in unemployment, vacancy and negative absorption, the Puget Sound market is in the top tier nationally.
Contact Alana Ness at 206.223.1262 for more information.
  2Q09_office_report.pdf
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