April 24, 2017

Oregon unemployment rate sets record low in March

From Oregon Employment Dept.,

Submitted graphic
   Oregon's unemployment rate edged down to 3.8 percent in March, from 4.0 percent in February. This was the lowest unemployment rate since comparable records began in 1976. Oregon's 3.8 percent unemployment rate was significantly lower than the U.S. unemployment rate of 4.5 percent in March.

   In March, nonfarm payroll employment rose by 2,400 following a revised gain of 7,600 in February. Three industries added at least 1,000 jobs: professional and business services (+1,700 jobs), government (+1,600), and manufacturing (+1,000). Only one industry cut at least 1,000, as financial activities shed 1,300 jobs.

   Over the past 12 months, payroll employment added 39,500 jobs, or 2.2 percent, which was a deceleration from the growth rate near or above 3 percent throughout much of the past four years. Oregon is still growing faster than the U.S. growth rate of 1.5 percent.

   Since March 2016, Oregon's construction sector grew the fastest, adding 8,200 jobs, or 9.2 percent. Other industries that grew rapidly were professional and business services (+8,700 jobs, or 3.7%); health care and social assistance (+7,600 jobs, or 3.3%); and information (+1,000 jobs, or 3.0%). Meanwhile only two industries cut jobs over the year: mining and logging (-100 jobs, or 1.3%); and wholesale trade (-1,000 jobs, or -1.3%).

Next Press Releases
The Oregon Employment Department plans to release the March county and metropolitan area unemployment rates on Tuesday, April 25th, and the next statewide unemployment rate and employment survey data for April on Tuesday, May 16th.

All numbers in the above narrative are seasonally adjusted.

The Oregon Employment Department and the U.S. Bureau of Labor Statistics (BLS) work cooperatively to develop and publish monthly Oregon payroll employment and labor force data. The estimates of monthly job gains and losses are based on a survey of businesses. The estimates of unemployment are based on a survey of households and other sources.

The pdf version of the news release, including tables and graphs, can be found at www.QualityInfo.org/press-release. To obtain the data in other formats such as in Excel, visit www.QualityInfo.org, then within the top banner, select Economic Data, then choose LAUS or CES. To request the press release as a Word document, contact the person shown at the top of this press release.

For help finding jobs and training resources, visit one of the state's WorkSource Oregon Centers or go to: www.WorkSourceOregon.org.

Equal Opportunity program -- auxiliary aids and services available upon request to individuals with disabilities. Contact: (503) 947-1794. For the Deaf and Hard of Hearing population, call 711 Telecommunications Relay Services.

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