In a two-part economic checkup, Treasurer Mike Pellicciotti calls on lawmakers to stick to fiscal guardrails—reserves, debt limits and pension funding—while bracing for inflation, tariffs and federal instability that could raise costs for Washingtonians. Chief Labor Economist Anneliese Vance-Sherman says the labor market is steady on paper but slowing underneath, encouraging policymakers to track industry employment trends for the clearest read on where jobs are growing, shrinking and at risk.