Economist: Washington Recovery Slow, Uneven - Spokane, North Idaho News & Weather KHQ.com

Economist: Washington Recovery Slow, Uneven

OLYMPIA, Wash. (AP) - The picture of Washington's economy coming out of a meeting of the Economic and Revenue Forecast Council is that of a state on a rocky path to recovery.

Speaking at the session, the state's chief economist says "things are slowly getting better," but notes that the recovery slowed in May and that the nation's jobs and retail sales reports are "weak."

Arun Raha says the unemployment rate could climb from last month's 9.1 percent. But, he says it will likely not surpass March's 9.5 percent jobless rate.

Raha says a $800 million tax package is the main reason Washington expects to collect nearly $560 million more than previously predicted for the fiscal year ending in June 2011.

Raha's forecast for the next two-year budget cycle pegs the state general fund at $34.1 billion about $1.9 billion more than predicted in February.
      
      (Copyright 2010 by The Associated Press.  All Rights Reserved.)

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