Oregon unemployment drops 0.2%
Oregon's unemployment rate dropped from 5.8% in May, as revised, to 5.6% in June. Oregon's unemployment rate has gradually declined each month this year, after ending last year at 6.3%. Meanwhile, the U.S. unemployment rate ticked up from 5.8% in May to 5.9% in June.
But not all is good news for 40,000 Oregonians. According to a release from the Oregon Employment Department, "Despite the recent declines in Oregon's unemployment rate, a large group of the unemployed have had difficulty regaining employment. The number of Oregonians unemployed for 52 weeks or more remains elevated at about 40,000 in June, compared with an average of about 8,000 during the three years prior to the recession."
Nonfarm payroll employment grew by 7,500 in June, following monthly gains averaging 10,100 in the prior five months.
The largest gains were in health care and social assistance (+2,400 jobs); other services (+1,700); transportation, warehousing, and utilities (+1,000); leisure and hospitality (+1,000); and wholesale trade (+800).
Only one major industry shed more than 300 jobs in June: construction (-900).
Fun is not back yet
Leisure and hospitality accounts for the bulk of Oregon's jobs not recovered since early 2020. It employed 169,500 in June, and added only 1,500 jobs in the most recent three months. The industry is still 46,800 jobs (-22%) below its peak month of February 2020, accounting for 45% of overall nonfarm payroll jobs yet to recover from Oregon's pre-recession peak.
Government, manufacturing jobs down
Local government employed 208,900 in June, which was 21,400 jobs below its pre-pandemic employment level of 230,300 in February 2020. With jobs still down by 9%, this industry has experienced the second largest percent reduction in that time, behind only leisure and hospitality.
Manufacturing remains substantially below its pre-recession total of 195,800 in February 2020.
The manufacturing industries dropping the largest percentage over the past 24 months include primary metals manufacturing (-3,300 jobs, or 36%), transportation equipment manufacturing (-2,100, or 16%) and fabricated metals manufacturing (-1,500, or 9%).
Online shopping effect
However, two industries increased their employment levels throughout the past couple of years. Transportation, warehousing and utilities added 4,400 jobs, or 6%, since prior to the recession. Similarly, state government gained 1,500 jobs, or 4%, in that time. Professional and technical services has also grown and now employs 3,100 jobs, or 3% more than its pre-recession peak.
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