State jobless rate holds

Washington’s unemployment rate held steady at 3.7% in August compared to the prior month, according seasonally adjusted data from the Washington state Employment Security Department.

The state added an estimated 16,100 jobs with the greatest employment growth occurring in government, education and health services, professional and business services and retail trade sectors, the department reported Wednesday.

“This month’s payroll numbers, along with last month’s upward revision, show the results of strong summer spending, which supported hiring by businesses,” Paul Turek, ESD’s state economist, said in a statement. “However, the decline in household employment serves as an indication the labor market is beginning to cool.”

The state provided jobless benefits to more than 35,529 people in August, an increase of 1,468 from July.

Visa change won’t track guns

Visa warned a new system that gun-control advocates are saying will limit mass shootings might not have the desired effect.

Earlier this month, the International Organization for Standardization approved a new merchant category code, or MCC, that banks will use when processing transactions for gun and ammunition stores.

Gun-control advocates were quick to celebrate the move, arguing it would help banks flag suspicious activity at these retailers.

The problem, Visa says, is when it processes transactions for any merchant it doesn’t have access to data showing what products consumers are actually buying.

Visa shares have declined 7.9% this year.

From staff and wire reports