Downtown Seattle lost 30,000 jobs, billions in office value since 2020 payroll tax: new report finds

A report from the Downtown Seattle Association found that Seattle lost 30,000 jobs and over $10 billion in office value since implementing the JumpStart Payroll Expense Tax in 2020. The report contrasts Seattle's declining workforce and property values with Bellevue's stable job growth and lower office vacancy, attributing the difference to tax policies. Seattle Mayor Katie Wilson defended the tax as critical to the city's economic resilience during the pandemic.