March 27, 2025 3:40 a.m.
Oregon’s unemployment rate was 4.5 percent in February and 4.4 percent in January, after rising gradually over the past year from 4.1 percent in February 2024.
An Oregon Employment Department release said the new rate is the highest since August of 2021, when the rate was 4.7 percent and slightly higher than during the three years prior to the COVID recession that started in 2020. The U.S. unemployment rate was 4.1 percent in February and 4.0 percent in January.
State Employment Economist Gail Krumenauer said in February, Oregon’s seasonally adjusted nonfarm payroll employment declined by 100 jobs, following a revised gain of 3,500 jobs in February. Krumenauer said February’s gains were largest in professional and business services, information, manufacturing, and government. Those categories rose by 1,700 jobs, 700 jobs, 600 jobs and 500 jobs respectively. Declines were largest in construction, private educational services, and financial services which declined by 2,200 jobs, 900 jobs and 700 jobs respectively.
OED said two industries within professional and business services bumped up hiring in February. Professional and technical services added 1,300 jobs on top of adding 1,100 jobs in January. This followed a gradual downtrend of 1,500 jobs during the prior 22 months. Meanwhile, administrative and waste services added 400 jobs in February. However, despite the one-month gain, this industry was on a choppy downward trajectory during much of the past two years, having cut 5,600 jobs since its all-time high of 106,000 in March 2022.
Krumenauer said payroll employment grew slowly over the past 12 months, adding 18,500 jobs, or 0.9 percent in that time. Job gains were strongest in health care and social assistance, which rose by 14,000 jobs or 4.8 percent, and government jobs which added 8,700 jobs or 2.8 percent. Meanwhile, manufacturing shed the most jobs of the major industries, losing 6,000 jobs or 3.2 percent. Construction jobs fell by 1,800 or 1.5 percent while retail trade lost 1,800 jobs or 0.9 percent. Both sectors have declined substantially since February 2024.