Oregon’s Unemployment Rate Holds Steady But Remains Well Below the National Average

The unemployment rate in Oregon remained unchanged at 5.2% in February, remaining 0.9% higher than the national average of 4.3%.

Financial Services Showed a Surprising Gain

The largest employment gains in February were in the financial services sector, which added 800, jobs, according to the Oregon Employment Department.

This increase marked a rare monthly gain for financial services, which have seen persistently declining job numbers over the past three years.

Although the February gain was 800 jobs, the 99,800 employed in financial services in February was nevertheless 1,100 fewer jobs (-1.1%) than in February 2025.

Transportation, Warehousing and Utilities Had the Biggest Job Loss

Employment sectors with the biggest losses were transportation, warehousing, and utilities. This sector cut 1,600 jobs in February, following a gain of 1,500 the previous month.

However, the 78,400 people employed by the sector in February represented 400 more jobs (0.5%) than the same month the previous year, and close to its average employment rate for most of the past five years.

Leisure and hospitality cut 1,500 jobs, following a gain of 1,200 the previous month.

The leisure and hospitality sector has remained consistent for most of the previous three years, averaging just over 207,000 jobs.

Professional and Business Services Continues its Downward Employment Spiral

Professional and business services continued its downward employment trend of the past three years, cutting 1,300 jobs in February. In January, it lost another 2,000 jobs.

This sector has culled 8,700 jobs, or 3.4%, in the last 12 months. Each of its three industries, administrative and waste services (-4,200), professional and technical services (-3,200), and management of companies and enterprises (-1,300), has shrunk by 2% since February 2025.

Also in a downward spiral was the state’s seasonally adjusted non-farm payroll, where employment declined by 5,400 jobs. This loss followed a gain of 1,600 jobs in January.