Seattle Downtown Loses 30,000 Jobs Since 2020 Payroll Tax
Downtown Seattle has lost over 30,000 jobs and billions in office property value since the implementation of a payroll tax in 2020, according to a Fox News report.
A Fox News report highlights a sharp economic contraction in downtown Seattle since the city's payroll tax took effect in 2020. Job losses have surpassed 30,000, and the value of office properties has dropped by billions of dollars.
The report also notes a shrinking business core, indicating a broader decline in urban economic activity in the area.
No further details on specific sectors or causes beyond the payroll tax were provided in the original report.
Source: First Squawk