Oregon’s Unemployment Rate Rises to 3.7% in August

NEWS

FOR IMMEDIATE RELEASE: September 14, 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 Rises to 3.7% in August

Oregon's unemployment rate rose to 3.7% in August from 3.5% in July. This was the first increase in Oregon's unemployment rate since April 2020. The U.S. unemployment rate was the same as in Oregon, at 3.7% in August and 3.5% in July. Over the past six months, Oregon's unemployment rate has remained low by historic standards, averaging 3.6% during that period.

In Oregon, nonfarm payroll employment grew by 9,300 in August, following an upwardly revised gain of 13,000 jobs in July. Monthly gains in August were largest in government (+3,800 jobs), leisure and hospitality (+1,900), construction (+1,400), professional and business services (+1,000), and manufacturing (+900). Other services (-800 jobs) and financial activities (-700) were the only major industries that shed more than 500 jobs.

With the rapid gains in total nonfarm payroll jobs in July and August, Oregon reached a record employment total of 1,974,700 jobs in August, which was 2,500 jobs above the pre-pandemic peak reached in February 2020. The private sector has also regained all of the jobs it lost during the pandemic recession.

Over the past 12 months, total nonfarm payroll employment grew by 74,800 jobs, or 3.9%. The following industries are powering the recovery, as each added more than 6,000 jobs while expanding at a faster rate than total nonfarm: leisure and hospitality (+18,500 jobs, or 9.9%), construction (+9,600 jobs, or 8.7%), manufacturing (+9,900 jobs, or 5.3%), and professional and business services (+11,700 jobs, or 4.7%).

Local government strayed from its usual seasonal pattern as local schools experienced fewer summer job reductions than normal, adding jobs in both July and August. This trend followed the first six months of the year, when local government employment averaged nearly 12,000 fewer jobs than in 2019, prior to the recession. But with fewer short-term job reductions in July and August of this year, local government education employed a total of 108,600 in August, which was 2,500 above its level in August 2019.

Next Press Releases The Oregon Employment Department plans to release the August county and metropolitan area unemployment rates on Tuesday, Sept. 20, and the next statewide unemployment rate and employment survey data for September on Wednesday, Oct. 19.

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Employment Department News Release

Page 2 of 3

September 14, 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

July to August 2022

INDUSTRY

Total nonfarm payroll employment Total private Mining and logging Construction Manufacturing

Normal Seasonal Movement

Unadjusted Change

Seasonally Adjusted Change

1,700 2,600

100 1,800

0

11,000 8,100 200 3,200 900

9,300 5,500

100 1,400

900

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

100 500

0 -300 -100

-100

800 400 -1,000 400 -900

600 1,200

-500 -600 -800

900

1,500 1,000

900 -400 2,900

500 700

-500 -300 -700

1,000

700 600 1,900 -800 3,800

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

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Employment Department News Release

Page 3 of 3

September 14, 2022

Notes: All numbers in the above narrative are seasonally adjusted, except for local government education.

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..

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Workforce and Economic Research CES Updated With 4Q2021 QCEW September 14, 2022

Oregon Current Labor Force and Industry Employment

Labor Force Status Civilian labor force

Unemployed Unemployment rate Unemployment rate, seasonally adjusted

Employed

August 2022

2,217,815 95,391 4.3 3.7

2,122,424

July 2022

2,212,209 86,629 3.9 3.5

2,125,580

August 2021

2,159,313 109,017 5.0 4.9

2,050,296

Change From July 2022

5,606 8,762

0.4 0.2 -3,156

Change From August 2021

58,502 -13,626

-0.7 -1.2 72,128

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

63.5

63.5

62.2

7.1

6.8

9.0

0.0

1.3

0.3

-1.9

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

1,976,000 1,697,200

6,800 4,800 127,000 35,900 22,900 13,000 11,700 79,400 14,700 36,600 17,200 10,900 202,700 139,100 23,500 6,500 8,800 8,200 7,400 16,700 15,000 41,300 33,800 5,100 10,900 63,600 30,600 11,100 4,100 366,600 80,100 38,900 33,300 7,900 208,300 25,000 17,600 48,200 14,500 9,600 37,900 18,300 7,800

1,965,000 1,689,100

6,600 4,700 123,800 35,200 22,600 12,600 11,400 77,200 14,300 35,000 17,300 10,600 201,800 138,500 23,500 6,500 8,800 8,200 7,300 16,800 15,000 41,000 33,900 5,100 10,900 63,300 30,200 11,000 4,100 365,300 79,500 38,900 32,800 7,800 207,100 25,300 17,800 47,200 14,300 9,500 38,100 18,100 7,700

1,891,400 1,617,200

6,700 4,900 114,500 33,200 21,200 12,000 10,700 70,600 13,100 31,800 15,600 10,100 189,800 129,900 22,800 6,300 8,500 8,000 6,700 16,100 14,000 38,000 30,700 4,900 10,600 59,900 29,500 10,500 4,000 360,300 74,900 37,700 29,900 7,300 209,500 26,100 18,800 46,000 13,600 9,500 39,800 17,400 7,800

11,000 8,100 200 100 3,200 700 300 400 300 2,200 400 1,600 -100 300 900 600 0 0 0 0 100 -100 0 300 -100 0 0 300 400 100 0 1,300 600 0 500 100 1,200 -300 -200 1,000 200 100 -200 200 100

84,600 80,000

100 -100 12,500 2,700 1,700 1,000 1,000 8,800 1,600 4,800 1,600 800 12,900 9,200 700 200 300 200 700 600 1,000 3,300 3,100 200 300 3,700 1,100 600 100 6,300 5,200 1,200 3,400 600 -1,200 -1,100 -1,200 2,200 900 100 -1,900 900

0

or2022est.xlsm "CLFIE-QBM"

August 2022

July 2022

August 2021

Change From July 2022

Change From August 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

78,200 4,900

73,300 18,300 15,000 19,900 35,100 15,900

2,300 13,600

4,300 107,400

56,100 25,200 23,900 51,300 44,200 263,600 110,600 12,200 19,800 17,400 49,800 103,200 97,300 43,600

9,300 28,800 309,800 34,800 275,000 99,100 57,900 50,200 67,800 215,300 28,400 20,800 186,900 26,000 160,900 69,600 74,500 62,900 19,000 14,700 29,200 14,200 278,800 28,700 43,400

1,200 206,700

8,000 108,600

0

78,700 4,900

73,800 18,500 15,000 20,100 35,700 16,100

2,300 13,800

4,300 108,200

56,200 25,300 23,800 52,000 45,400 262,700 111,600 12,400 19,600 17,900 49,600 101,500 95,600 43,100

9,100 28,500 307,300 33,300 274,000 99,100 57,700 49,800 67,400 214,400 28,900 21,100 185,500 26,000 159,500 70,700 73,400 63,300 19,200 15,000 29,100 14,500 275,900 28,900 43,200

1,100 203,800

8,000 106,200

0

75,900 4,800

71,100 19,100 13,600 19,000 35,400 16,000

2,400 13,600

4,400 105,300

56,200 25,700 24,100 49,100 43,600 252,600 104,700 11,900 18,100 17,200 48,600 99,300 93,100 39,000 10,000 26,300 296,100 28,000 268,100 94,600 58,700 49,200 65,600 196,100 24,400 17,900 171,700 23,700 148,000 63,600 70,200 60,400 19,000 14,300 27,100 13,800 274,200 29,300 42,900

1,000 202,000

7,800 107,900

200

-500 0

-500 -200

0 -200 -600 -200

0 -200

0 -800 -100 -100 100 -700 -1,200 900 -1,000 -200 200 -500 200 1,700 1,700 500 200 300 2,500 1,500 1,000

0 200 400 400 900 -500 -300 1,400

0 1,400 -1,100 1,100

-400 -200 -300 100 -300 2,900 -200 200 100 2,900

0 2,400

0

2,300 100

2,200 -800

1,400 900 -300 -100 -100 0 -100

2,100 -100 -500 -200

2,200 600

11,000 5,900 300 1,700 200 1,200 3,900 4,200 4,600 -700 2,500

13,700 6,800 6,900 4,500 -800 1,000 2,200

19,200 4,000 2,900

15,200 2,300

12,900 6,000 4,300 2,500 0 400 2,100 400 4,600 -600 500 200 4,700 200 700 -200

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.

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