I suppose you could say the news from the state Economic and Revenue Update is boring. Manufacturing is expected to be strong, employment is up, housing starts are up, consumer spending is up. Ho Hum.

But I say we should count our lucky stars we live here. The biggest global economic uncertainty of the moment is centered in Europe, and we have very little exposure to that market. More than half of Washington's trade is with Asia, and nearly a quarter is with North America. The Economic and Revenue Forecast Council believes the EU debt crisis is not a threat to Washington.

Now for some cheering numbers!

First quarter employment: up 6,600. Another 5,800 jobs were added in April, and the unemployment rate fell a little. The jobs are primarily in Trade, Transportation and Utilities.

Housing starts: March—17,800—the highest level since May 2008.

Consumer spending: Up, they say, as are average hourly earnings in manufacturing.