Oregon's unemployment rate hovers near 4 percent
The state's unemployment rate ticked up slightly in November to 3.9 percent, up from 3.8 percent a month earlier.
According to data from the state employment department, Oregon's unemployment rate has been close to 4 percent for the past two years. Comparatively, the United States as a whole had an unemployment rate of 3.7 percent in October and November.
Oregon's nonfarm payroll employment grew by more than 2,400 jobs in November. Professional and business services added 3,300 jobs and government added 700 jobs. Wholesale trade lost 900 jobs and no other major industry registered an over-the-month change of more than 600 jobs.
Since November 2017, the state's nonfarm payroll employment increased by 36,600 jobs, an increase of 1.9 percent. In that timeframe, construction remained the fastest growing industry, increasing by 7.7 percent for a gain of 7,700 jobs. Professional and business services also grew by 8,200 jobs for an increase of 3.3 percent. Health care and social assistance fields added 4,700 jobs for a 2 percent increase.
However, not all fields expanded as rapidly. Leisure and hospitality added 1,500 jobs for an increase of 0.7 percent, thereby expanding at less than half the rate of overall employment. And fields like retail trade and private educational services both declined, losing 400 and 300 jobs respectively.
"Recent employment estimates for professional and business services indicate rapid expansion in this broad industry," a press release from the department reads. "All three of its component industries expanded in recent months.
The release states administrative and waste services led the way, growing by 5,600 jobs for a 5.5 percent increase. Management of companies and enterprises grew by 2,100 jobs for a 4.4 percent increase over the past years. Professional and technical services grew rapidly from 2010 to 2017, but slowed over the past year, adding only 500 jobs in the past 12 months.
The department had said county-by-county numbers would be available by the end of December, although those statistics were not listed on the department's website as of press time Tuesday morning.
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