September 18, 2019 3:30 a.m.
Oregon’s unemployment rate was 4.0 percent in August, remaining flat for a third straight month.
Economist David Cooke from the Oregon Employment Department said the rate has remained between 4.0 percent and 4.4 percent for 34 consecutive months, dating back to November of 2016. Cooke said in the 40 years prior to 2016, Oregon’s unemployment rate was never below 4.7 percent.
Last month, Oregon’s total nonfarm payroll employment added 900 jobs, following a gain of 2,400 jobs in July. Monthly gains for August were the strongest in leisure and hospitality which added 1,600 jobs, and in professional and business services where 1,100 jobs were added. Those gains were offset by jobs losses in the “other services” and wholesale trade categories which each lost 900 jobs, retail trade where 700 jobs were lost and in social assistance which lost 600 jobs.
Cooke said recent employment growth has slowed from the rapid expansion over the past several years. In the first eight months of 2019, total nonfarm payroll employment gains averaged 1,000 jobs per month. This was a marked slowdown from the average gain of 3,000 jobs in 2018. So far this year, several industries have cut jobs, with information down the most in percentage terms, shedding 2,000 jobs or 5.7 percent.
In the past three months, the U.S. unemployment rate was steady at 3.7 percent.