November 15, 2023 10:40 a.m. 

In October, Oregon’s seasonally adjusted nonfarm payroll employment declined by 4,600 jobs, following a revised gain of 5,500 jobs in September.

A release from the Oregon Employment Department said October’s losses were largest in professional and business services, which lost 1,600 jobs, and leisure and hospitality, where 1,500 jobs were lost. Three industries each cut 900 jobs: manufacturing, retail trade, and health care and social assistance. The only industry growing substantially in October was construction, which added 1,500 jobs.

State Employment Economist Gail Krumenauer said professional and business services expanded slightly slower than overall employment over the past 12 months, adding 4,400 jobs or 1.7 percent. That compared with growth of 44,300 jobs, or 2.3 percent for total nonfarm payroll employment. Krumenauer said while most of the industry grew rapidly over this period, employment services trended downward, cutting 4,100 jobs or 9.0 percent since October 2022.

OED said although leisure and hospitality gained 8,700 jobs, or 4.3 percent in the past 12 months, the industry showed recent weakness with job declines of 300 in September and 1,500 in October. While accommodation and food services cut 2,500 jobs over the past two months, arts, entertainment and recreation expanded in both months for a combined gain of 700 jobs.

The release said manufacturing continued to decline, shedding 900 jobs in October. It is down 4,400 jobs, or 2.3 percent in the past 12 months. Most of the cuts were in durable goods manufacturing, which is down 4,900 jobs since October 2022. In contrast, nondurable goods manufacturing added 500 jobs over the year.

Krumenauer said construction employment surged to another record high in October, gaining 1,500 jobs. At 123,000 jobs in October, construction is up 6,000 jobs or 5.1 percent since October 2022.

OED said health care and social assistance grew the fastest of the major industries over the past 12 months, adding 16,300 jobs or 6.0 percent. Gains since October 2022 were led by social assistance, and nursing and residential care facilities, which each grew by close to 8 percent.

Oregon’s unemployment rate was 3.6 percent in October and 3.5 percent in September. October was the sixth consecutive month in which Oregon’s unemployment rate was between 3.4 percent and 3.7 percent. The U.S. unemployment rate was 3.8 percent in September and 3.9 percent in October.