State revenue collections jumped in the previous month, according to the latest report. While much of the $73 million in unexpected income was likely a one-time novelty, the state economy is continuing to improve, especially housing.
The Economic and Revenue Forecast Council reported that changes in the timing of tax payments likely accounted for much of the unexpected revenue, and would result in lower collections for December, but $20 million in improved real estate excise tax should remain firm. The November report also noted that Washington added 9,500 jobs in September and October, and the unemployment rate dropped by 4 points to 8.2 percent in October.
