3/22/22 3:00 p.m. 

The Oregon unemployment rate dropped to 4.0% in February, from 4.2%, as revised, in January.

Information released Tuesday from the Oregon Employment Department said Oregon’s unemployment rate dropped rapidly from its peak in April 2020 through late 2021.

Officials said the unemployment rate is now at its lowest level since prior to the pandemic-induced recession when the rate was at 3.5%.

The U.S. unemployment rate, in comparison was 3.8% in February, down from a revised 4% in January

In February, Oregon’s nonfarm payroll employment rose by 12,300 jobs, following a revised gain of 5,100 jobs in January.

This was the largest monthly gain since July 2021 when 34,800 jobs were added.

In February, gains were largest in leisure and hospitality with more than 3,500 jobs added.

Other sectors with strong gains include construction with over 2,300 added positions, health care and social assistance which added more than 1,600 jobs, and professional and business services with just over 1,200 additional workers.

Eight other industries each added between 200 and 900 jobs.

The OED said none of the major industries had substantial job losses in the month of February.

In long term numbers, leisure and hospitality rapidly added workers since February 2021, with 51,700 jobs, or 34.4% recovered in the last year.

Despite these gains, leisure and hospitality still accounts for a large share of the jobs Oregon has not recovered since early 2020, with 14,600 jobs left to recover to reach the prior peak month of February 2020.  The industry has regained 87% of jobs lost early in the pandemic.

Construction reached another record high of 116,100 jobs in February.

Professional and technical services employed 106,000 people in February and continued rapid expansion, adding 4,700 jobs, or 4.6%, since its pre-recession peak in February 2020.