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Tuesday, March 5, 2024
March 5, 2024

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New business starts in Washington lag behind rate of nation’s rebound


Before the coronavirus pandemic, business starts in Washington were running well ahead of last year — and solidly above the national pace, as well.

But after the economic shock of the shutdown sent both figures plunging, the nationwide rate of new applications for tax IDs has bounced back more strongly than in Washington state.

The Census Bureau reports that nationally, recent new business applications were just 1% below the year-ago level. In Washington state, the pace is still more than 10% below last year’s rate.