Unemployment rate nearly unchanged in December
Unemployment figures throughout Clackamas County, Canby and Molalla turned slightly higher than a year ago, they remain nearly the same. Although jobs were lost in wholesale trade and a small amount in financial activities, the largest losses came from state government.
Looking at wage trends in the previous two years, workers earning less than $15 per hour fell, while those making above $15 per hour increased 4.5 percent. The industries with the largest share of jobs paying $40-plus an hour were financial services, manufacturing and natural resources and mining including agriculture. The percentages of jobs paying less than $15 per hour were leisure and hospitality, retail trade, natural resources and mining.
Clackamas County's unemployment rate increased slightly to 3.7 percent compared with 3.4 percent a year ago. Out of a labor force of 229,711, there were 212,622 working with 8,089 not working or an increase of 0.3 percentage points from a year earlier, but minus 4.0 percentage points from the beginning of the recession to the end of 2018.
Canby had a workforce of 8,850 people in December with all but 328 working. Its unemployment rate is 3.7 percent, 0.6 percentage points over a year ago and minus 5.2 percentage points compared with 10 years earlier at the start of the recession.
Molalla's workforce totaled 4,634 people in the labor force in December with only 192 on unemployment and an unemployment rate of 4.1 percent, just a smidgeon, O.1 percentage point, higher than a year earlier and minus 4.0 than the 10-year period from 2008-2018.
Median sales price for existing housing in the county reached $411,000, an increase of $187,650 or 84 percent since the housing boom busted in 2007. Housing prices in the Oregon City, Canby, Beavercreek, Molalla-Mulino median sales in the eight year period from 2010 to 2018 increased $168,200 from $228,800 in December 2010 to $397,000 in December 2018. The largest gains in the Portland Metropolitan area were in Clackamas County, the Lake Oswego-West Linn areas, which showed strong growth in median sales prices since January 2016. Prices in that area increased by $175,000 over nearly three years ago.