Oregon’s Employment Outlook Remains Bleak With More Than 220,000 People Out of Work

Oregon’s unemployment rate continues to climb month by month. In January, the state’s unemployment rate stood at 5.2%, nearly a full percentage point above the national jobless rate.

With a total population of 4,237,256, according to the 2020 Census, 5.2% unemployment in the Beaver State equates to 220,337 people.

In its monthly report, the Oregon Employment Department reveals that the national unemployment rate for the same month was 4.3%, 0.9% lower.

The Manufacturing Sector Once Again Lost the Most Jobs

Once again, it was the manufacturing sector that lost the most jobs – a total of 1,500 – after gaining 1,300 posts in December.

Manufacturing in Oregon has experienced a sharp decline since November 2022, when it employed 195,000 workers.

Following a similar pattern is the professional and business services sector, with a job loss of 1,300 in January. This left the industry with 7,600 posts, 2.9% below its total the previous year, and 17,000 jobs below its peak in 2023 when 268,100 people were employed.

In January, Oregon’s seasonally adjusted non-farm payroll employment increased by 2,000 jobs.

Leisure and Hospitality, Healthcare and Social Assistance, and Construction Enjoyed the Most Gains

The three industries that recorded the largest gains in January were leisure and hospitality with 1,800 jobs, healthcare and social assistance with1,500, and construction with 1,000.

Although leisure and hospitality outperformed the normal season pattern, its total employment roll of 209,800 was nevertheless only slightly higher than during most of the past few years.

Healthcare and social assistance once again outstripped all other Oregon employment sectors.

The number of jobs rose by 4,100 during the three months ending in January, while 9,800 jobs, or 3.2%, were added during the 12 months ending in January, representing the fastest growth rate of all major industries in Oregon during the same period.

The construction industry experienced a slight rebound in January, adding 1,000 jobs after shedding 2,400 jobs the previous month.

The construction sector in Oregon has experienced a general decline over the past two years, from a high of 118,000 jobs throughout most of 2023 to its January tally of 111,600 posts.

The employment horizon forecast for Oregon job seekers remains bleak, with 1.5 unemployed people for every job opening in December, compared with 1.1 nationally.