Washington continues to be a high-cost state for employers in a variety of categories . The state leads the country with the highest minimum wage ( Table 27 ), the highest workers ’ compensation benefits paid ( Table 26 ) and second-highest average weekly regular unemployment benefits paid ( Table 25 ). And Washington employers continue to pay nearly half of all state and local taxes ( Table 11 ), although the percentage declined from 49.1 % to 48.4 %, moving the state from 14th to 16th in the nation .
Overall , the 2023 Redbook offers a snapshot of Washington ’ s relative economic strength as the state emerged from the pandemic , but many economic challenges remain including rising inflation , continuing labor shortages and concerns about a possible recession .
We encourage readers to use this book as a resource to help guide and champion Washington ’ s economy , and to strengthen all people , industry sectors and communities .