State brought in $40 million less than it expected.

Washington's financials were released Thursday, showing a 1.2 percent revenue shortfall - or $40 million. The shortfall is due to a struggling economy that hasn't improved as quickly as anticipated.

$14 million of the shortfall occurred in the 2009-2011 biennium. $26 million of the shortfall happened in the current biennium.

The Economic and Revenue Forecast Council said in a release that the state's job market was weaker than expected in June. The release stated, "The economy added 8,300 net new jobs in June, July and August, compared to the expected 13,600." 

The state's unemployment rate remained at 9.3 percent.

Read the entire release here.