The Seattle City Council Select Committee on Federal Administration & Policy Change convened on June 20, 2025, to discuss pressing economic indicators and the implications of recent trade policies, particularly tariffs. The meeting highlighted concerns regarding employment growth, housing prices, and inflation, all of which are influenced by current economic uncertainties.

The session began with a review of employment trends in King County, noting a stagnation in job growth. The first four months of 2025 showed nearly no increase in employment, contrasting with a modest growth of 0.6% during the same period in 2024. Historical data indicates that King County has averaged a 1.5% annual employment growth over the past two decades, raising concerns about the region's economic trajectory.

Housing prices were also a focal point, with a reported growth of 4.8% in early 2025, down from 6% in 2024. Despite high interest rates, the housing market appears resilient, although the long-term outlook remains uncertain. Taxable sales showed a slight positive growth of 0.5% in the first quarter, but there are fears that April's figures could reflect a downturn due to the introduction of tariffs.

Inflation was discussed as a critical factor, currently at 2%. However, the committee acknowledged that the full impact of tariffs on prices has yet to materialize. The discussion emphasized the potential for rising costs in the near future, particularly as companies begin to adjust prices in response to tariffs and inventory levels.

Director Duras, who presented later in the meeting, echoed these sentiments, highlighting the unpredictability of economic outcomes due to trade policies. He noted that the combination of tariffs and other regulatory changes could lead to increased costs for households and businesses, further dampening job growth.

The meeting concluded with a commitment to monitor these economic indicators closely, as the committee prepares for potential policy responses to mitigate the impacts of these challenges. The next steps will involve further analysis of the evolving economic landscape and its implications for the Seattle community.