Catching Up on the Budget & Economy

The mixed messages continue.

The Puget Sound Business Journal reports that the National Association of Business Economists has concluded that the recession is over. That's, of course, the consensus of business economists who still have their jobs.

Jeff Cornwall, however, points out that there's no recovery without jobs. And jobs remain scarce.

Drew DeSilver has a good analysis in the Seattle Times, with the bleak headline "Recession has cost state one of every 20 jobs."

At the peak of the state's most recent economic cycle, in February 2008, there were just under 3 million nonfarm payroll jobs. Since then, 145,400 jobs have evaporated — a decline of 4.9 percent.

Brad Shannon in the Olympian also reports on the new unemployment numbers. 

It's not just employment that's falling. The SeattlePI.com reports that taxable retail sales remain in the tank.

The state Revenue Department says taxable retail sales in Washington plummeted in the second quarter by 14 percent, the largest decline on record, to $25 billion.

The sales dropped 12.8 percent in the first quarter and 10.8 percent in the fourth quarter of 2008.

Sen. Joe Zarelli thinks the budget conditions justify a special session in December. We've heard it isn't going to happen. If not, Democratic leaders better have a plan. Sixty days pass quickly. And the budget won't heal itself.