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Employment Dept. News & Information
Oregon Employment Department

Oregon's unemployment rate dips in January
02/27/2006
Contact:  David Cooke
Economist
(503) 947-1272
 
Oregon’s Employment Situation: January 2006
 
Oregon’s seasonally adjusted unemployment rate was 5.3 (revised by Bureau of Labor Statistics on 3-1-2006) percent in January, essentially unchanged from 5.7 percent in December. The rate has dropped by more than one percentage point over the prior 12 months, from 6.5 percent in January 2005, and is now at its lowest rate since January 2001 when it was 5.2 percent. By reaching 5.4 percent in January, the rate is now at a level comparable to where it was during all of 1996 through 2000, when Oregon’s unemployment rate ranged from 5.0 percent to 5.9 percent.
 
Meanwhile, the U.S. unemployment rate edged down to 4.7 percent in January from 4.9 percent in December. Oregon’s unemployment rate in January was 0.7 percentage point above the U.S. unemployment rate. This was the closest Oregon’s rate has been to the U.S. rate since December 1997, when the gap was 0.7 point.
 
Industry Payroll Employment (Establishment Survey Data)
Recently revised figures for the past two years show annual average payroll employment growing by 2.1 percent in 2004 and by 3.1 percent in 2005. The growth rate in 2005 was close to the same pace as previously reported, when payroll employment was originally thought to have expanded at a 3.4 percent rate. The revised numbers show annual average growth of 50,400 jobs between 2004 and 2005.
 
In the 12 months ending January 2006, Oregon’s total nonfarm payroll employment is up 58,800 jobs or 3.7 percent. This gain indicates Oregon’s economy is growing at more than twice the rate of the national economy, where jobs have grown by 1.6 percent. Most of the gain in Oregon has come from the private sector, where employment is up 4.5 percent since January 2005.
 
In January, seasonally adjusted nonfarm payroll employment rose by 2,900 jobs, continuing a trend of rapid growth over the past two years. Manufacturing, trade, and government each posted better numbers than normal for the time of year. Counterbalancing this strength were bigger than expected job losses in leisure and hospitality and in other services.
 
  • Manufacturing dropped 1,000 jobs during a month that typically sees a decrease of 2,900. Wood product manufacturing cut 1,100 and was down by the same amount over the prior 12 months. Several less seasonal industries showed essentially flat employment trends in January, including primary metals, machinery, computers and transportation equipment. Food manufacturing added 500 jobs and is up 1,400 in the past 12 months.
 
  • Trade, transportation, and utilities dropped as retail trade cut 12,000 jobs in January following the holiday shopping frenzy that ended in December. That shopping season by national accounts was a decent one with high-end retailers generally enjoying the fruits of the economic expansion, while discount stores were hurt disproportionately by hikes in energy prices. Clothing and accessory stores is one of the more highly seasonal retail industries. It cut 3,200 jobs in January. Similarly, general merchandise stores cut 3,100, while nonstore retailers were down 3,300. Wholesale trade closely tracked manufacturing, by cutting 800 jobs in January. This industry is up 2,900 jobs over the past 12 months.
 
  • Government lost 1,700 jobs in January. This was due to typical declines in education, which shed 1,300 jobs for the state government and 1,000 for local governments.
 
  • Leisure and hospitality lost 3,600 jobs in January, but has added 7,200 in the prior 12 months. Arts, entertainment, and recreation lost 400, while accommodation and food services shed 3,200 due to a 1,700-job decline in limited-service eating places.
 
  • Other services cut 1,300 jobs in January when a loss of 300 would be normal for the time of year. Losses of 600 each were reported in two industries within other services: personal and laundry services and in membership organizations and associations.
 
 
Unemployment (Household Survey Data)
Oregon’s seasonally adjusted unemployment rate was 5.3 percent (revised by Bureau of Labor Statistics on 3-1-2006) in January and 5.7 percent in December. Revised data for 2005 show Oregon’s unemployment rate has been on a generally downward trend for more than two years. The rate has declined at close to the same pace since reaching a peak of 8.5 percent in July 2003.
 
Revised data for last year show that Oregon’s 2005 annual average unemployment rate was 6.1 percent compared with 7.3 percent in 2004.
 
In January, 113,861 Oregonians were unemployed, compared with 130,499 in January 2005.
 
The Oregon Employment Department will release statewide unemployment rate and employment survey data for February 2006 at 11 a.m. on Monday, March 20, 2006.
 
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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.
 
 
Page updated: March 05, 2007

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