Seattle Lost 18,000 Jobs Since 2024 as Business Leaders Warn Downtown Revival Is at Risk
Updated
Updated · KOMO News · Sep 30
Seattle Lost 18,000 Jobs Since 2024 as Business Leaders Warn Downtown Revival Is at Risk
1 articles · Updated · KOMO News · Sep 30
Summary
18,000 jobs have disappeared in Seattle since 2024, with many losses concentrated downtown, prompting business leaders to warn the city’s recovery and tax base are at risk.
Less than 1% annual regional job growth since 2022 left the Puget Sound area ranked 20th among the 30 largest U.S. metros for employment gains from 2019 to 2025.
Bellevue added 5,375 jobs and Tacoma 662 over the same period, reinforcing business complaints that Seattle’s taxes, costs and policy uncertainty are pushing employers to expand elsewhere.
Mayor Katie Wilson’s preliminary budget avoids new taxes, and her administration has launched a business-and-labor task force, faster permitting and a proposed investment fund to retain firms and diversify the economy.
Ten companies generate 75% of Seattle’s JumpStart payroll tax revenue, underscoring how downtown hiring, startup growth and keeping mid-sized firms in the city now matter to the broader fiscal outlook.