March 17, 2020 10:40 a.m.
Unemployment in Oregon remains at 3.3 percent.
New data from the Oregon Employment Department said the rate for February is the same as it was in January. It is the lowest rate on record since comparable records began in 1976.
Nick Beleciks, Systems and Economic Analysis manager for EPD, said it’s too early to have data showing the employment impact, but the response to COVID-19 is causing a reduction in economic activity both nationally and in Oregon. He said it will be weeks before the department can accurately quantify the extent of the damage to Oregon’s labor market.
The release said the labor force data for February shows little impact from the spread of coronavirus since the February unemployment rate is always based on people’s activity for the week that included February 12th. By mid-February, there had been relatively limited economic impact from the disease.
Total nonfarm payroll employment rose by 3,100 jobs in February, following a loss of 300 jobs in January. Two major industries added more than 1,000 jobs in February. Construction added over 1,700 jobs while business and professional services gained 1,300 jobs. Manufacturing was the only industry to cut jobs substantially, losing 500 jobs.
Oregon’s non-farm payroll employment increased by 26,600 jobs, or 1.4 percent over the year since 2019.
The United States rate for unemployment in February was 3.5 percent.