OREGON’S NONFARM PAYROLL EMPLOYMENT RISES BY 8,500 JOBS

August 15, 2024 3:30 a.m.

In July, Oregon’s seasonally adjusted nonfarm payroll employment rose by 8,500 jobs, following a revised decline of 700 jobs in June.

A State of Oregon Employment Department release said July’s largest gains were 2,300 jobs in professional and business services, 2,000 in health care and social assistance, 1,800 in government, and 1,400 in construction. Declines were largest in leisure and hospitality and retail trade, with losses of 700 and 500 jobs respectively.

State Employment Economist Gail Krumenauer said professional and business services July gain was led by the addition of 2,000 jobs in the component industry administrative and waste management services. Krumenauer said despite the one-month increase, professional and business services cut 2,900 jobs or 1.1 percent in the past 12 months, with each of its three component industries also declining by close to 1 percent since July 2023.

OED said health care and social assistance expanded rapidly, adding 2,000 jobs in July and 16,300 jobs over the past 12 months. Social assistance grew by 7,500 jobs or 10.3 percent in 12 months. Meanwhile, the health-care component industries each added more than 2,000 jobs since July 2023: Nursing and residential care facilities added 3,500 jobs or 6.6 percent, ambulatory heath care services added 3,700 jobs or 3.7 percent while hospitals added 2,300 jobs or 3.9 percent.

Krumenauer said despite gains in health care and a few other industries, several industries cut jobs over the past year. Four major industries declined by at least 1,000 jobs since July 2023: Retail trade shed 6,600 jobs or 3.2 percent, financial activities lost 1,300 jobs or 1.3 percent, professional and business services cut 2,900 jobs or 1.1 percent while manufacturing lost 1,900 jobs or 1.0 percent.

Oregon’s unemployment rate was 4.1 percent in both June and July. It has been in a tight range between 4.0 percent and 4.2 percent since October 2023.  The U.S. unemployment rate rose from 4.1 percent in June to 4.3 percent in July.