Oregon unemployment rate stays at 5.5 percent
This is a press release courtesy of the State of Oregon
Oregon’s seasonally adjusted unemployment rate was 5.5 percent in both October and November. The U.S. seasonally adjusted unemployment rate was 4.7 percent in both October and November.
In contrast to the slow growth noted in recent months, in November, Oregon’s seasonally adjusted non-farm payroll employment grew by 7,500, following a gain of 3,200 in October.
Industry Payroll Employment (Establishment Survey Data) In November, seasonally adjusted payroll employment grew by 7,500 after a revised gain of 3,200 in October. Two major industries advanced substantially above their normal seasonal November pattern: trade, transportation, and utilities (+2,700 jobs) and leisure and hospitality (+2,900). Only one major industry posted a seasonally adjusted job loss: construction (-1,200).
The October employment figures were revised upward substantially and now show a gain of 3,200 rather than the loss of 1,400 that was originally reported. Revisions were primarily in government, where state government was revised upward by 1,000 jobs and local government education was revised upward by 2,200 jobs.
The moderately strong job showing in October followed by the strong gain in November put Oregon’s payroll employment up by 24,300 over the past 12 months. This is a gain of 1.4 percent.
Trade, transportation, and utilities added 7,700 jobs in November when a gain of 5,000 is the seasonal pattern. Wholesale trade has expanded rapidly for the past four years and has accelerated in recent months. Between August and November, wholesale trade added 1,700 jobs, with all three components of wholesale trade growing. In November, metals and other durable goods wholesalers reported hiring gains.
Retail trade as a whole has shown its normal seasonal hiring pattern over the past several months. Employment is up 4,700 jobs, or 2.3 percent, since November 2006. The holiday season hiring pattern is holding consistent with reports of modest U.S. consumer spending growth this year. Hiring at holiday related retail trade sectors is up 5,300 jobs between September and November. This is less than the comparable average gain of 7,600 jobs over the prior five years.
Leisure and hospitality normally cuts employment in November as the lodging industry is in the midst of its pullback heading into the low employment months of the winter. This November, employment dropped by only 500, which was much less than the typical seasonal drop of 3,400. Restaurant expansion has fueled the hot hiring in this major industry sector. Over the past 12 months, food services and drinking places added 5,000 jobs or 4.0 percent.
Construction cut 4,100 jobs in November, which was a steeper drop than the typical loss of 2,900 for the month. Seasonally adjusted employment in construction was 100,200. The industry has been close to that level on several occasions over the past two years, but hasn’t been below 100,000 since early 2006. In November, all published industries within construction posted unadjusted job losses with specialty trade contractors (-2,700 jobs) showing the biggest cutbacks.
Government has shown a fairly strong hiring trend over the past year, with employment up 6,000 jobs or 2.0 percent since November 2006. All of the gains have come from local government, where local government education is up 4,200 jobs, Indian tribal establishments are up 800, and other local government is up 1,200 over the past year.
Educational and health services continued its long-term trend of steady and rapid growth. This private sector industry is up 6,700 jobs or 3.2 percent over the last 12 months.
Manufacturing rebounded over the last few months, posting a cumulative seasonally adjusted gain of 3,200 jobs between June and November. Primary metals and fabricated metals manufacturing have both rapidly expanded since bottoming in late 2003. Some metals manufacturers have benefited by high metals prices, growing demand in the aerospace and defense sectors, and export growth. These gains have been offset by continued declines in lumber and wood products, paper, and transportation equipment.
Oregon’s seasonally adjusted unemployment rate was 5.5 percent in both October and November. The U.S. seasonally adjusted unemployment rate was 4.7 percent in both October and November.
In contrast to the slow growth noted in recent months, in November, Oregon’s seasonally adjusted non-farm payroll employment grew by 7,500, following a gain of 3,200 in October.
Industry Payroll Employment (Establishment Survey Data) In November, seasonally adjusted payroll employment grew by 7,500 after a revised gain of 3,200 in October. Two major industries advanced substantially above their normal seasonal November pattern: trade, transportation, and utilities (+2,700 jobs) and leisure and hospitality (+2,900). Only one major industry posted a seasonally adjusted job loss: construction (-1,200).
The October employment figures were revised upward substantially and now show a gain of 3,200 rather than the loss of 1,400 that was originally reported. Revisions were primarily in government, where state government was revised upward by 1,000 jobs and local government education was revised upward by 2,200 jobs.
The moderately strong job showing in October followed by the strong gain in November put Oregon’s payroll employment up by 24,300 over the past 12 months. This is a gain of 1.4 percent.
Trade, transportation, and utilities added 7,700 jobs in November when a gain of 5,000 is the seasonal pattern. Wholesale trade has expanded rapidly for the past four years and has accelerated in recent months. Between August and November, wholesale trade added 1,700 jobs, with all three components of wholesale trade growing. In November, metals and other durable goods wholesalers reported hiring gains.
Retail trade as a whole has shown its normal seasonal hiring pattern over the past several months. Employment is up 4,700 jobs, or 2.3 percent, since November 2006. The holiday season hiring pattern is holding consistent with reports of modest U.S. consumer spending growth this year. Hiring at holiday related retail trade sectors is up 5,300 jobs between September and November. This is less than the comparable average gain of 7,600 jobs over the prior five years.
Leisure and hospitality normally cuts employment in November as the lodging industry is in the midst of its pullback heading into the low employment months of the winter. This November, employment dropped by only 500, which was much less than the typical seasonal drop of 3,400. Restaurant expansion has fueled the hot hiring in this major industry sector. Over the past 12 months, food services and drinking places added 5,000 jobs or 4.0 percent.
Construction cut 4,100 jobs in November, which was a steeper drop than the typical loss of 2,900 for the month. Seasonally adjusted employment in construction was 100,200. The industry has been close to that level on several occasions over the past two years, but hasn’t been below 100,000 since early 2006. In November, all published industries within construction posted unadjusted job losses with specialty trade contractors (-2,700 jobs) showing the biggest cutbacks.
Government has shown a fairly strong hiring trend over the past year, with employment up 6,000 jobs or 2.0 percent since November 2006. All of the gains have come from local government, where local government education is up 4,200 jobs, Indian tribal establishments are up 800, and other local government is up 1,200 over the past year.
Educational and health services continued its long-term trend of steady and rapid growth. This private sector industry is up 6,700 jobs or 3.2 percent over the last 12 months.
Manufacturing rebounded over the last few months, posting a cumulative seasonally adjusted gain of 3,200 jobs between June and November. Primary metals and fabricated metals manufacturing have both rapidly expanded since bottoming in late 2003. Some metals manufacturers have benefited by high metals prices, growing demand in the aerospace and defense sectors, and export growth. These gains have been offset by continued declines in lumber and wood products, paper, and transportation equipment.