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Oregon Employment Rate Unchanged In October
In October, Oregon’s employment rose by 11,600 jobs, following a loss of 1,100 jobs in September. The gain was the largest monthly increase since 14,100 jobs were added in February 2017. The Oregon Employment Department reports that monthly gains were concentrated in professional and business services and in leisure and hospitality. Both industries rebounded from job losses within the prior two months. Three other industries added at least 1,000 jobs in October: manufacturing (+1,000); and transportation, warehousing and utilities (+1,000). Retail trade cut 900 jobs, posting the biggest monthly job decline.
The big job gain in October boosted Oregon’s over-the-year growth rate. Since October 2016, Oregon has added 45,000 jobs, which equals an annual growth rate of 2.4 percent. Construction continues to lead the way with 9,400 jobs added, equaling 10.3 percent growth. The second fastest growing industry was transportation, warehousing and utilities.
Over the past 12 months, five service-providing industries expanded faster than the overall economy. Meanwhile, only two industries posted declines during that time: other services, and mining and logging. Oregon’s unemployment rate was essentially unchanged at 4.3 percent in October from 4.2 percent in September, remaining near the national unemployment rate of 4.1 percent in October.