Not paper wasp. Yellow jackets are fairly easy to tell apart from hornets.

Bald-faced hornets are black and white (or creamy white)
Yellowjackets are black and yellow.
Both build paper nests such as that.

In the PNW, paper wasps and yellowjacket wasps are

common and are frequently mistaken for one another

(Figure 2). They share the traditional coloration of yellow

and black stripes that warns potential predators that they can sting.

http://cru.cahe.wsu.edu/CEPublications/FS152E/FS152E.pdf

The various paper wasps, and including the European, make "open" nests such that you can see into the individual cells. But yellowjackets and baldfaced hornets wrap/enclose the nest. (In the above pub, see the bottom of page 2.)

Thanks for all the comments. I am told that the nest will be abandoned after the summer anyway, with the queen going elsewhere to start a new colony next year.

That's correct.