OREGON’S UNEMPLOYMENT RATE EDGES DOWN TO 4.1 PERCENT

January 20, 2022 10:40 a.m. 

Oregon’s unemployment rate edged down to 4.1 percent in December, from 4.2 percent in November.

A release from the Oregon Employment Department said this was the 20th consecutive month of declines in Oregon’s unemployment rate. The U.S. unemployment rate dropped from 4.2 percent in November to 3.9 percent in December.

Economist David Cooke said nonfarm payroll employment in the state rose by 8,200 in December, following a revised gain of 9,200 jobs in November. Cooke said throughout 2021, monthly gains averaged 8,900. In December, gains were largest in leisure and hospitality, where jobs rose by 2,600. Healthcare and social assistance added 1,200 jobs while manufacturing and professional and business services each added 900 jobs.

Cooke said leisure and hospitality still accounts for a large share of Oregon’s jobs not recovered since early 2020, with 23,200 jobs left to recover to reach the prior peak month of February 2020. The industry has regained 79 percent of the jobs lost early in the pandemic.

The release said manufacturing’s recent job gains were strongest in nondurable goods manufacturing, including food manufacturing which employed 28,700 in December. That is a level close to each of the four Decembers prior to the recession.

Administrative and waste services added jobs at a fast clip, averaging 1,400 per month over the past four months. Cooke said demand is hot for temporary help supply and employee leasing firms, as the employment services industry added 9,500 jobs. That’s good for 25 percent growth over the year. These gains were countered by declines in another component industry: business support services, which has steadily declined from 16,000 jobs 6 years ago to 9,900 jobs in December 2021. Reductions within the category were concentrated in telephone call centers, and to a lesser extent, copy shops.