July 19, 2024 3:30 a.m.
Oregon’s unemployment rate was 4.1 percent in June and 4.2 percent in May.
A release from the Oregon Employment Department said the rate has been in a tight range between 4.0 percent and 4.2 percent since October of 2023.
In June, Oregon’s seasonally adjusted nonfarm payroll employment rose by 600 jobs, following a gain of 4,000 jobs in May. State Employment Economist Gail Krumenauer said June’s gains were largest in three sectors. Krumenauer said they increased by 1,200 jobs in health care and social assistance, 800 in financial activities and 700 in leisure and hospitality. Declines in were largest in professional and business services and manufacturing which shed 1,800 and 600 jobs respectively.
OED said health care and social assistance continued its rapid expansion. During the two-and-half year period between January of 2022 through June of 2024, it added 34,000 jobs or 12.8 percent. Employment gains in social assistance have accelerated in recent months. The industry added 8,800 jobs or 12.2 percent during the past 12 months. Meanwhile, the three health care component industries each added more than 2,000 jobs since June 2023: Nursing and residential care facilities added 2,700 jobs or 5.1 percent, ambulatory health care services gained 2,700 jobs and hospitals added 2,200 jobs or 3.7 percent.
Krumenauer said despite gains in health care and a few other industries recently, the list of declining industries is growing. Six major industries cut a substantial number of jobs in the past 12 months. Three of the major industries each declined by about 3,600 jobs since June 2023: Retail trade lost 3,600 jobs or 1.7 percent, professional and business services shed 3,600 jobs or 1.3 percent and manufacturing lost 3,500 jobs or 2.8 percent. Krumenauer said the other major industries cutting at least 700 jobs in that time were construction which lost 2,700 jobs or 2.3 percent, transportation, warehousing and utilities which shed 1,100 jobs or 1.4 percent and information which lost 700 jobs or 1.9 percent.
The U.S. unemployment rate in June was 4.1 percent, which changed little from May.