Introduction
The 2024 Competitiveness Redbook provides a data-driven look at key measures of Washington ’ s economic health . It offers a side-by-side comparison of how Washington ranks on 60 economic indicators compared to other states .
Overall , the Redbook shows the state ’ s economic strengths and challenges following spiking inflation , workforce shortages , and continued worries of a recession .
In a cooling economy , Washington ’ s job growth has slowed but remains solid . The state added 77,100 jobs , ranking 11th for the number of jobs gained and percentage growth ( Table 4 ). Washington moved from fifth to fourth in exports per capita and eighth to seventh in total export value , making it one of the country ’ s top exporters ( Table 8 ).
Washington continues to be a leader in high-tech innovation and research and development , ranking first for employment in the tech sector as a share of overall employment ( Table 19 ) and second for overall R & D spending ( Table 31 ).
Year after year , Washington maintains its competitive advantage of low-cost power . The state has the lowest electricity rates for residential and industrial customers in the nation , and the eighth lowest for commercial users ( Table 43 ). Washington generates about 76 % of electricity from renewable