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Washington's latest jobs report suggests a potential economic slowdown or recession. April saw a modest increase of 6,100 jobs compared to March, with the unemployment rate dropping slightly to 4.3%.

Nonagricultural jobs have surpassed pre-pandemic levels, but concerns about the Federal Reserve's interest rate hikes remain. The leisure and hospitality sector saw a year-over-year increase of 21,300 jobs, while job openings have been declining overall.

Seattle's technology industry, once booming, has slowed down, resulting in layoffs. However, Seattle's unemployment rate remains below the state average at 3% in April.

The state economist, Paul Turek, expressed cautious optimism but noted the potential for a gradual decline. The labor market is a lagging indicator, and it may be feeling the impacts of a slowdown. Turek suggested that job opportunities in the tech sector and other areas in Seattle will be available but not as abundant as before.

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