Oregon Wholesale Trade Suffers Biggest Job Losses as Unemployment Ticks Up to 5%

The Oregon wholesale trade suffered the most job losses in August, shedding 1,100 positions.

This was likely caused by factors such as softer consumer demand and increased cost pressures from tariffs.

The Wholesale Sector Has Been on the Decline for a Year

Overall, the wholesale trade has declined rapidly over the past 12 months, shedding 4,300 jobs, or -5.5%.

All three wholesale component industries shrank substantially in that time: merchant wholesalers, non-durable goods (-1,500 jobs, or -4.9%); merchant wholesalers, durable goods (-1,000 jobs, or -2.5%); and wholesale trade agents and brokers (-900 jobs, or -13.0%).

Unemployment in Oregon Creeps Up to 5%

Painting another bleak scenario, Oregon’s unemployment rate once again rose from 4.9% to 5% in August. Unemployment has been steadily climbing over the past 12 months, from 4.2% in August 2024.

Oregon’s 5.0% unemployment rate is 1.4% higher than the recent low of 3.6% during spring 2023. The national unemployment rate was 4.2% in July and 4.3% in August.

On a brighter note, the Oregon Employment Department (OED) states in its news release that the seasonally adjusted non-farm payroll increased by 6,900 jobs last month.

Sectors with the largest gains were healthcare and social assistance, which added 2,500 jobs, leisure and hospitality, up 1,500 jobs, government, up 1,100, and other services, up 1,000.

Health Care and Social Assistance Continues to Expand

There is no stopping the continued and rapid expansion of the health care and social assistance sectors over the last few years, which added 11,600 jobs, or 3.8%, during the past 12 months.

Nursing and residential care facilities experienced the biggest gains, adding 400 jobs in August and 3,900 jobs over the past year, a 6.8% increase since August 2024. Hospitals, while flat in August, recorded the second-fastest growth among healthcare sectors over the past 12 months, with 2,900 new jobs, or a 4.6% increase.

Social assistance added 2,400 jobs (up 3.0%), and ambulatory health care services grew by 2,300 jobs (up 2.2%) during the same period.

Leisure and hospitality grew 2.0% over the last year, adding 4,100 jobs, while its component industries added between 2% and 4% since last August.

The fastest growing sector was amusement, gambling, and recreation, adding 1,500 jobs, or 6.7%.

At the other end of the scale, full-service restaurants cut 1,200 jobs, or 1.8%.