United Way of King County’s “Basic Needs Indicators” have been updated with 2nd quarter data for most indicators and July data for unemployment. The economic indicators show the impact of economic conditions on people in our community and provide an immediate barometer of how people are faring during these difficult times. The indicators include unemployment, home foreclosures, emergency food distribution, requests for financial assistance and more.
Highlights of the update:
- Most indicators of need related to economic stress remain at elevated levels, but are no longer increasing.
- The unemployment rate is dropping slightly, and overall employment is increasing slightly, when adjusted for 2010 Census jobs. This reflects the slow economic recovery.
- Two indicators of need continue to climb: requests for rent assistance and public benefits caseloads.
- Requests for rent assistance may continue to increase as people remain out of work for longer periods, using up personal reserves, and as unemployment benefits are exhausted.
- Public benefit caseloads are still climbing mainly because people continue to stay on benefits as the job market remains difficult.