November 17, 2020 10:40 a.m.
Oregon’s unemployment rate dropped to 6.9 percent in October, down from 7.9 percent, as revised, in September.
State Employment Economist Gail Krumenauer said Oregon’s unemployment rate has closely tracked the national unemployment rate which also fell to 6.9 percent in October, from 7.9 percent in September.
A release from the Oregon Employment Department said Oregon’s total nonfarm payroll employment rose by 14,200 jobs in October, following a revised gain of 9,300 jobs in September. Over the past four months the rate of job growth has averaged 14,400 per month. That follows more rapid growth in May and June, when 74,500 jobs were added. Oregon employers added jobs in each of the past six months. The release said the state has recovered 46 percent of the jobs cut in March and April.
Over the month job gains in October were largest in construction, which added 6,100 jobs. The professional and business services and leisure and hospitality categories each added 4,300 jobs. The decline was the largest in government which lost 7,400 jobs.
The release said leisure and hospitality continues to be the industry most impacted by the economic effects of the COVID pandemic. Its employment bounced back substantially in May and June, but job gains have slowed over the past four months. Employment totaled 162,000 in October, which was down 54,300 jobs, or 25 percent, since its peak month in February. Over the past year, two of its component industries cut employment by more than a quarter. Since October 2019, arts, entertainment, and recreation is down by nearly half and the accommodation category is down by nearly a third.
Most schools in Oregon were impacted by a combination of distance learning and declining enrollment this fall, which has resulted in job cuts at all levels of education. Local government education lost over 21,000 jobs in the past year. That is a loss of 15 percent of the positions in that category. Private education saw a cut of 7,400 jobs, or 20 percent in the same time period.
Two major industries expanded in the past year. Construction surged by 6,100 jobs over the month in October. It is up 700 jobs since October of 2019, putting it close to the record levels during late 2019 through March of this year. Transportation, warehousing and utilities added 1,200 jobs in October. That sector added 5,800 jobs in the past 12 months.