Oregon’s unemployment rate has Oregon’s

NEWS

FOR IMMEDIATE RELEASE: August 17, 2022

CONTACT INFORMATION: Gail Krumenauer, State Employment Economist (971) 301-3771 Video and Audio available at 10 a.m. David Cooke, Economist (971) 375-5288

Oregon's Unemployment Rate Holds Steady at 3.5% in July

Oregon's unemployment rate was 3.5% in July, unchanged from 3.5%, as revised, in June. The U.S. unemployment rate was also 3.5% in July. Oregon's unemployment rate has tracked very closely with the national unemployment rate for the past two years, with both rates declining rapidly during May 2020 through early 2022 as the economies recovered. Over the past five months, unemployment rates for the U.S. and Oregon have averaged 3.6%, near record lows dating back almost 50 years.

The labor market is tight, and many people have gotten back to work. Over the past two years, Oregon's labor force participation rate rose rapidly. The share of the population 16 and older that is either employed or unemployed reached 63.5% in July, its highest rate in a decade.

In Oregon, nonfarm payroll employment grew by 4,200 in July, following gains averaging 6,300 jobs in the prior eight months. Monthly gains in July were largest in leisure and hospitality (+1,500 jobs), other services (+1,400), manufacturing (+1,300), and private educational services (+1,300). Retail trade (-700 jobs) was the only major industry that shed a substantial number of jobs.

As of July, Oregon has regained 94% of jobs lost at the onset of the pandemic. The U.S. has regained 100%. Oregon's private sector is close to a full jobs recovery, having regained 99% of pandemic recession losses. However, Oregon's government sector has only regained 49% of the jobs it lost during March through June 2020.

Professional and technical services was one of the fastest growing industries over the past two years. It added 1,900 jobs in July and has grown by 10,400 jobs since February 2020. Over the past 12 months, architectural and engineering services added 1,700 jobs, or 9.4%, which was the highest growth rate of the component industries within professional and technical services.

Retail trade has inched downward since late last year. In July, it dropped to 209,000 jobs, which is back to where it was in late 2016. Over the past 12 months, the weakest retail trade sectors were building material and garden supply stores (-1,700 jobs) and general merchandise stores (-2,400 jobs).

Next Press Releases The Oregon Employment Department plans to release the July county and metropolitan area unemployment rates on Tuesday, Aug. 23, and the next statewide unemployment rate and employment survey data for August on Wednesday, Sept. 14.

SUPPORT BUSINESS ? PROMOTE EMPLOYMENT

Employment Department News Release

Page 2 of 3

August 17, 2022

Percent 14.0

Oregon Unemployment Rate, Seasonally Adjusted

13.0

12.0

11.0

10.0

9.0

8.0

7.0

6.0

5.0

4.0

3.0

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Seasonal Expectations and Over-the-Month Employment Changes

June to July 2022

INDUSTRY

Total nonfarm payroll employment Total private Mining and logging Construction Manufacturing

Normal Seasonal Movement

Unadjusted Change

Seasonally Adjusted Change

-18,100 12,100

100 1,400 2,600

-13,900 16,100

100 1,100 3,900

4,200 4,000

0 -300 1,300

Wholesale trade Retail trade Transportation, warehousing, and utilities Information

Financial activities Professional and business services Private educational services Health care and social assistance

Leisure and hospitality

Other services

Government

600 600

0 400 1,200

1,300

-1,300 -1,200 6,800

-400 -30,200

800 -100

0 100 1,200

1,100

0 -1,400 8,300 1,000 -30,000

200 -700

0 -300

0

-200

1,300 -200

1,500 1,400

200

Millions 2.00

Oregon Nonfarm Payroll Employment, Seasonally Adjusted

1.95

1.90

1.85

1.80

1.75

1.70

1.65

1.60

1.55

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Oregon Seasonally Adjusted Employment

350,000

Trade, transportation, and utilities

300,000

Health care and social assistance-->

250,000

Professional and business services

Government, including public education

200,000

Manufacturing

150,000

Leisure and hospitality

100,000

Construction

Financial activities

Other services

50,000

Information

Mining and logging

0 2017 2018 2019 2020

Educational services 2021 2022

SUPPORT BUSINESS ? PROMOTE EMPLOYMENT

Employment Department News Release

Page 3 of 3

August 17, 2022

Notes: All numbers in the above narrative are seasonally adjusted, except for the component industries within retail trade and professional and technical services.

The Oregon Employment Department and the U.S. Bureau of Labor Statistics (BLS) work cooperatively to develop and publish monthly Oregon payroll employment and labor force data. The estimates of monthly job gains and losses are based on a survey of businesses. The estimates of unemployment are based on a survey of households and other sources.

The Oregon Employment Department publishes payroll employment estimates that are revised by using employment counts from employer unemployment insurance tax records. All department publications use this Official Oregon Series data unless noted otherwise. This month's release incorporates the October, November and December 2021 tax records data. The department continues to make the original nonfarm payroll employment series available; these data are produced by the BLS.

The PDF version of the news release can be found at press-release. To obtain the data in other formats such as in Excel, visit , then within the top banner, select Economic Data, then choose LAUS or CES. To request the press release as a Word document, contact the person shown at the top of this press release.

To file a claim for unemployment benefits or get more information about unemployment programs, visit employ.

The Oregon Employment Department (OED) is an equal opportunity agency. Everyone has a right to use OED programs and services. OED provides free help. Some examples are: Sign language and spoken language interpreters, written materials in other languages, braille, large print, audio and other formats. If you need help, please call 971-673-6400. TTY users call 711. You can also ask for help at OED_Communications@employ..

SUPPORT BUSINESS ? PROMOTE EMPLOYMENT

Workforce and Economic Research CES Updated With 4Q2021 QCEW August 17, 2022

Oregon Current Labor Force and Industry Employment

Labor Force Status Civilian labor force

Unemployed Unemployment rate Unemployment rate, seasonally adjusted

Employed

July 2022

2,211,382 87,337 3.9 3.5

2,124,045

June 2022

2,199,147 80,036 3.6 3.5

2,119,111

July 2021

2,160,021 111,470 5.2 5.1

2,048,551

Change From June 2022

12,235 7,301 0.3 0.0 4,934

Change From July 2021

51,361 -24,133

-1.3 -1.6 75,494

Other Labor Force Indicators Labor force participation rate, seasonally adjusted Labor underutilization rate ? U-6, seasonally adjusted

63.5

63.5

62.2

6.9

6.9

9.5

0.0

1.3

0.0

-2.6

Nonfarm Payroll Employment

Total nonfarm payroll employment Total private Mining and logging Logging Construction Construction of buildings Residential building construction Nonresidential building construction Heavy and civil engineering construction Specialty trade contractors Building foundation and exterior contractors Building equipment contractors Building finishing contractors Other specialty trade contractors Manufacturing Durable goods Wood product manufacturing Sawmills and wood preservation Plywood and engineered wood product mfg. Other wood product manufacturing Primary metal manufacturing Fabricated metal product manufacturing Machinery manufacturing Computer and electronic product manufacturing Semiconductor and electronic component mfg. Electronic instrument manufacturing Transportation equipment manufacturing Nondurable goods Food manufacturing Fruit and vegetable preserving and specialty Paper manufacturing Trade, transportation, and utilities Wholesale trade Merchant wholesalers, durable goods Merchant wholesalers, nondurable goods Electronic markets and agents and brokers Retail trade Motor vehicle and parts dealers Building material and garden supply stores Food and beverage stores Clothing and clothing accessories stores Sporting goods, hobby, book and music stores General merchandise stores Miscellaneous store retailers Nonstore retailers

1,955,400 1,689,000

6,600 4,700 123,800 35,000 22,500 12,500 11,300 77,500 14,200 35,200 17,600 10,500 202,200 138,900 23,600 6,600 8,800 8,200 7,400 16,700 15,000 41,000 33,900 5,100 10,900 63,300 30,000 10,900 4,100 364,800 79,300 38,800 32,800 7,700 206,900 25,300 17,800 47,200 14,200 9,500 38,100 18,000 7,700

1,969,300 1,672,900

6,500 4,600 122,700 34,700 22,300 12,400 11,300 76,700 14,200 34,800 17,200 10,500 198,300 136,400 23,600 6,600 8,800 8,200 7,300 16,700 14,900 41,600 34,700 5,100 10,900 61,900 29,700 10,300 4,100 364,100 78,500 38,600 32,200 7,700 207,000 25,200 18,200 46,700 14,300 9,500 37,600 17,900 7,700

1,891,700 1,615,500

6,800 4,900 114,500 33,200 21,200 12,000 10,700 70,600 13,200 31,700 15,600 10,100 189,900 129,800 23,000 6,400 8,500 8,100 6,700 16,000 14,000 37,800 30,500 4,900 10,600 60,100 29,800 10,700 4,100 360,800 74,700 37,700 29,700 7,300 210,700 26,100 19,500 46,100 13,600 9,500 40,500 17,300 7,700

-13,900 16,100

100 100 1,100 300 200 100

0 800

0 400 400

0 3,900 2,500

0 0 0 0 100 0 100 -600 -800 0 0 1,400 300 600 0 700 800 200 600 0 -100 100 -400 500 -100 0 500 100 0

63,700 73,500

-200 -200 9,300 1,800 1,300 500 600 6,900 1,000 3,500 2,000 400 12,300 9,100 600 200 300 100 700 700 1,000 3,200 3,400 200 300 3,200 200 200

0 4,000 4,600 1,100 3,100

400 -3,800

-800 -1,700 1,100

600 0

-2,400 700 0

Oregon employment 8-12-2022.xlsx "CLFIE-QBM"

July 2022

June 2022

July 2021

Change From June 2022

Change From July 2021

Transportation, warehousing, and utilities Utilities

Transportation and warehousing Truck transportation Couriers and messengers Warehousing and storage

Information Publishing industries, except internet Newspaper, book, and directory publishers Software publishers Telecommunications

Financial activities Finance and insurance Credit intermediation and related activities Insurance carriers and related activities Real estate and rental and leasing Real estate

Professional and business services Professional and technical services Legal services Architectural and engineering services Computer systems design and related services Management of companies and enterprises Administrative and waste services Administrative and support services Employment services Business support services Services to buildings and dwellings

Education and health services Educational services Health care and social assistance Ambulatory health care services Hospitals Nursing and residential care facilities Social assistance

Leisure and hospitality Arts, entertainment, and recreation Amusement, gambling, and recreation Accommodation and food services Accommodation Food services and drinking places Full-service restaurants Limited-service eating places

Other services Repair and maintenance Personal and laundry services Membership associations and organizations Religious organizations

Government Federal government State government State education Local government Indian tribal Local education

Labor-management disputes

78,600 4,900

73,700 18,600 14,800 20,000 36,000 16,200

2,300 13,900

4,400 108,200

56,200 25,300 23,800 52,000 45,400 262,800 112,000 12,400 19,800 18,100 49,300 101,500 95,500 42,700

9,100 29,400 307,100 33,700 273,400 99,100 57,300 49,700 67,300 214,500 28,300 20,600 186,200 26,200 160,000 70,900 73,800 63,000 19,200 14,800 29,000 14,500 266,400 28,900 43,500

1,200 194,000

7,700 98,500

0

78,600 4,900

73,700 18,800 15,100 19,900 35,900 16,100

2,300 13,800

4,300 107,000

56,600 25,700 24,000 50,400 44,200 261,700 109,000 12,100 19,300 17,700 49,400 103,300 97,300 44,200

9,200 28,800 308,500 33,700 274,800 98,900 57,600 49,600 68,700 206,200 27,100 19,500 179,100 23,200 155,900 69,000 71,300 62,000 18,500 14,600 28,900 14,600 296,400 28,600 43,300

1,100 224,500

7,700 128,600

0

75,400 4,800

70,600 19,200 13,500 19,000 35,700 16,100

2,400 13,700

4,400 105,200

56,500 25,800 24,200 48,700 43,300 253,300 104,900 12,000 18,100 17,300 48,300 100,100 93,900 39,200 10,300 26,500 296,000 27,300 268,700 94,700 58,500 49,400 66,100 193,000 24,100 18,000 168,900 23,500 145,400 62,100 70,000 60,300 19,000 14,100 27,200 13,800 276,200 29,500 43,000

1,000 203,700

7,700 109,600

0

0 0 0 -200 -300 100 100 100 0 100 100 1,200 -400 -400 -200 1,600 1,200 1,100 3,000 300 500 400 -100 -1,800 -1,800 -1,500 -100 600 -1,400 0 -1,400 200 -300 100 -1,400 8,300 1,200 1,100 7,100 3,000 4,100 1,900 2,500 1,000 700 200 100 -100 -30,000 300 200 100 -30,500 0 -30,100 0

3,200 100

3,100 -600

1,300 1,000

300 100 -100 200

0 3,000

-300 -500 -400 3,300 2,100 9,500 7,100 400 1,700 800 1,000 1,400 1,600 3,500 -1,200 2,900 11,100 6,400 4,700 4,400 -1,200 300 1,200 21,500 4,200 2,600 17,300 2,700 14,600 8,800 3,800 2,700 200 700 1,800 700 -9,800 -600 500 200 -9,700

0 -11,100

0

The most recent month is preliminary, the prior month is revised. Prepared in cooperation with the U.S. Department of Labor, Bureau of Labor Statistics.

Labor Force Status: Civilian labor force includes employed and unemployed individuals 16 years and older by place of residence. Employed includes nonfarm payroll employment, selfemployed, unpaid family workers, domestics, agriculture and labor disputants. Unemployment rate is calculated by dividing unemployed by civilian labor force.

U-6 is the total unemployed plus all persons marginally attached to the labor force plus total employed part-time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force. Nonfarm Payroll Employment: Data are by place of work and cover full- and part-time employees who worked or received pay for the pay period that includes the 12th of the month. The data exclude the self-employed, volunteers, unpaid family workers, and domestics. These survey-based estimates are revised quarterly, based on more complete information from employer tax records.

###

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download