Seattle Lost 18,000 Jobs Since 2024 as Business Leaders Warn Tax Base at Risk

1 articles · Updated · KOMO News · Oct 1

18,000 Seattle jobs have disappeared since 2024, with many cuts concentrated downtown, prompting business leaders to warn the city’s core recovery and tax base could stall.
Less than 1% average annual regional job growth since 2022 has left Puget Sound ranked 20th among the 30 largest U.S. metros for employment gains from 2019 to 2025.
Downtown Seattle Association CEO Jon Scholes blamed unpredictable tax policy and added employer taxes, arguing City Hall should avoid new business levies and give companies more confidence to expand.
Bellevue added 5,375 jobs and Tacoma 662 over the same period, underscoring Seattle’s weaker performance as employers weigh cheaper or more predictable alternatives nearby.
Mayor Katie Wilson’s no-new-taxes budget and executive order on business retention, faster permitting and a startup investment fund are emerging as the city’s main response.