Is Oregon's economy cooling?
Oregon's economy produced only about 200 jobs in September. At the same time, the state's unemployment rate held steady at 4.1 percent.
State employment officials said Tuesday, Oct. 15, that September's small job gains followed a loss of about 900 jobs in August. That means the state's hot job market is cooling, they said.
"Job gains have cooled recently, averaging only 100 per month over the past five months," state economists said in a news release. "This flat economic trend is in contrast to gains that averaged 3,000 jobs per month in all of 2018, and 4,100 jobs per month during the rapid and consistent growth Oregon experienced during the prior five-year period."
Industries that added jobs in September were health care and social assistance (up 2,300 jobs); wholesale trade (up 1,000); and manufacturing (up 400). A handful of industries lost jobs, including government (down 2,100 jobs); financial activities (a drop of 500); professional and business services (down 500); and retail trade (down 400).
The state's unemployment rate has hovered around 4 percent for nearly three years.
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