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| August 2005 Unemployment Rate |
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| 09/12/2005 |
CONTACT: David Cooke
Economist
(503) 947-1272
Oregon’s Employment Situation: August 2005
Oregon’s seasonally adjusted unemployment rate was essentially unchanged at 6.7 percent in August, after reaching 6.6 percent in July. The rate is below the year-ago figure of 7.5 percent in August 2004.
The national unemployment rate was 4.9 percent in August, which was down from 5.4 percent in August 2004. Oregon’s unemployment rate has been above the national rate for nearly ten years.
Nonfarm payroll employment advanced strongly for the third consecutive month, posting a seasonally adjusted gain of 5,300 jobs following a revised gain of 8,500 in July. This measure of employment is up 3.4 percent over the prior 12 months and has grown rapidly throughout most of the past two years after reaching its recent low in June 2003.
Industry Payroll Employment (Establishment Survey Data)
In August, seasonally adjusted job gains of more than 1,000 were common among the major industry categories. Each of the following sectors — construction (+2,100); professional and business services (+1,600); leisure and hospitality (+1,600); private educational and health services (+1,100); and government (+1,000) — posted impressive gains for the month. Manufacturing (‑1,900) was the only major industry showing a substantial drop in August.
- Construction employment grew strongly in August by adding 3,300 jobs at a time of year when a gain of only 1,200 would be typical. Most of the gain for the month was seen in specialty trade contractors, which added 2,200 for the month. But the other two sectors — construction of buildings (+700) and heavy and civil engineering construction (+400) — also posted solid results. Over the past two years, advances in construction have been phenomenal, with a gain of 15,000 or 18.2 percent since August 2003.
- Professional and business services added 2,000 jobs at a time of year when a gain of 400 would be the typical seasonal trend. Administrative and waste services added the most jobs with 1,700, thanks to a 1,000-job gain in employment services. Professional and technical services added 800 jobs, while management of companies and enterprises lost 500. Professional and business services has grown rapidly over the past two years, but is still below its pre-recession peak. Employment in August equaled its level in August 2000.
- Leisure and hospitality has hired rapidly over the past year, adding 5,800 jobs or 3.5 percent in the past 12 months. In August, employment in the industry reached a record of 170,100. Accommodation and food services added 2,400 jobs, with gains split nearly evenly between the two main components.
- Educational and health services cut only 200 jobs, when a drop of 1,300 would be typical in August. Private sector education added 300 and is up 400 since last August. Health care and social assistance retreated from last month’s gain with a loss of 500. This was due to 700 jobs shed in the social assistance industry. Overall, health care and social assistance was up 8,400 jobs from August 2004.
- Government dropped by 800 jobs in August, less than half the typical August decline. The losses were due to continued summer contractions in state education and local education, which were down 600 and 800 jobs respectively.
- Manufacturing lost 900 jobs in August. Over the year the sector has gained 4,300 (2.1%). Durable goods manufacturing has accounted for most of that increase, adding 4,100 jobs (2.7%) since August 2004, while nondurable goods manufacturing has remained flat. In August, durable goods was flat. Plywood and engineered wood product manufacturing lost 300 in August, largely due to a fire at a Douglas County plywood mill that burned to the ground and cost the area 200 jobs. Fabricated metal product manufacturing gained 300. Nondurable goods lost 800 jobs, as food manufacturing began its annual decline. While food manufacturing often peaks in August, it lost 500. Some agricultural products had poor harvests this summer, after a dry winter and a wet spring. Printing and related support activities cut 300 jobs.
Unemployment (Household Survey Data)
Oregon’s seasonally adjusted unemployment rate rose by one-tenth of a point for the third consecutive month. It was essentially unchanged from 6.6 percent in July to 6.7 percent in August. The rate has been in a range of 6.1 percent to 6.7 percent all year, and is down from 7.5 percent in August 2004.
In August, 119,598 Oregonians were unemployed, compared with 132,036 in August 2004.
The Oregon Employment Department will release statewide unemployment rate and employment survey data for September 2005 at 11 a.m. on Monday, October 17, 2005.
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For the complete version of the news release, including this text, tables and graphs, visit:
www.QualityInfo.org/pressrelease.
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.
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