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| Unemployment rate holds steady in December |
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| 01/17/2006 |
Construction remains strong
Contact: David Cooke, economist
Oregon Employment Department
503-947-1272
Oregon’s Employment Situation: December 2005
Oregon’s seasonally adjusted unemployment rate was 5.7 percent in December – the same as the revised figure for November. Oregon’s unemployment rate has not been lower since March 2001, when it was 5.6 percent. The rate was down from the prior year, when it was 7.0 percent in December 2004.
In December, seasonally adjusted nonfarm payroll employment rose by 7,500 jobs, continuing a trend of rapid job growth over the past two years.
Industry Payroll Employment (Establishment Survey Data)
In December, seasonally adjusted payroll employment grew by 7,500, following a revised gain of 8,600 in November. Thus, employment finished the year with strong economic expansion, similar to the pace of expansion throughout most of 2004 and 2005.
Most major industry categories shared in the seasonally adjusted job gains for the month. Educational and health services posted the largest (+2,700 jobs), followed by manufacturing (+2,500). Three major industries – professional and business services, leisure and hospitality, and construction – each posted seasonally adjusted job gains of close to 1,000 in December. Only two major industries – natural resources and mining, and trade, transportation, and utilities – experienced seasonally adjusted job losses for the month.
- Educational and health services showed unusually strong gains in the past two months. Seasonally adjusted employment was up 2,000 in November and 2,700 in December. Private sector education added 2,400 jobs in the past 12 months, while health care and social assistance gained 8,700.
- Manufacturing posted a strong showing for December by adding 300 jobs at a time of year when a drop of 2,200 is normal. Durable goods manufacturing was up 1,800 jobs, with gains in fabricated metals (+300 jobs) and machinery (+400). Both of these manufacturing industries expanded employment substantially in recent months. Meanwhile, nondurable goods manufacturing cut 1,500 jobs during its typical slow time of the year for food manufacturing.
- Professional and business services added 200 jobs in December, with its component industries showing contrast in job activity. Professional and technical services added 900 jobs. Meanwhile, administrative and support services lost 500 jobs due to a 1,500-job reduction in employment services.
- Leisure and hospitality was flat in December at a time of year when 1,000 jobs are normally cut in the industry. Full-service restaurants dropped 1,000 jobs, while gains were posted in amusement, gambling and recreation (+600 jobs) and accommodation (+500).
- Construction employment declined by only 1,500 jobs in December, at a time of year when typical seasonal declines number 2,200. Construction employment showed strong seasonally adjusted job gains throughout the past year and added 11,700 jobs or 14.0 percent during that time. In December, construction of buildings was especially strong, adding 500 jobs for the month and up 3,600 over the past 12 months.
- Natural resources and mining, an Oregon industry comprised primarily of logging firms, posted an unusually large employment drop in December. It cut 700 jobs during a month that normally sees a cut of only 200.
- Trade, transportation, and utilities was held back by retail trade, which added only 800 jobs in December, when the average December gain over the past five years had been 2,200. A big reason for the poor showing in retail was that motor vehicle and parts dealers cut employment by 500. General merchandise stores added only 600 jobs, when their average December gain over the prior five years was 800. National reports indicate that during the 2005 holiday season, sales gains compared with the prior year at department store were less than gains at other store types such as discount and electronics stores. Nonstore retailers posted a strong gain of 900 jobs, to reach 10,200, which was close to this retail component’s all-time record.
Unemployment (Household Survey Data)
Oregon’s seasonally adjusted unemployment rate was 5.7 percent in December, unchanged from the revised figure of 5.7 percent in November. Oregon’s unemployment rate was down from 7.0 percent in December 2004. In December, 101,639 Oregonians were unemployed, compared with 124,492 in December 2004. The national unemployment rate was essentially unchanged at 4.9 percent in December, about the same as the prior nine months’ readings, which were between 4.9 percent and 5.1 percent.
The Oregon Employment Department will release statewide unemployment rate and employment survey data for January 2006 at 11 a.m. on Monday, February 27, 2006.
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Read Governor Ted Kulongoski's comments on the unemployment rate.
For the complete version of the news release, including 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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