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| Oregon statewide employment rate |
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| 11/13/2006 |
Contact: David Cooke
Economist, Oregon Employment Department
(503) 947-1272
David.C.Cooke@state.or.us
Oregon’s seasonally adjusted unemployment rate in October was 5.1 percent compared with 5.4 percent in September.
The U.S. unemployment rate was 4.4 percent in October, its lowest point in five years and down from 4.6 percent in September.
In October, Oregon’s seasonally adjusted nonfarm payroll employment dropped by 2,700, its first decline in five months. The September figure was revised higher to show a gain of 6,900.
Industry Payroll Employment (Establishment Survey Data)
In October, three major industries – trade, transportation and utilities, government, and professional and business services – each had seasonally adjusted job losses of close to 2,000. Partially counterbalancing these setbacks were three major industries – construction (+1,500), information (+1,000) and other services (+900) – that each posted substantial gains.
- Trade, transportation, and utilities pulled back by 400 jobs in October after strong gains in the prior two months. Retail trade kicked off the holiday hiring on a weak note with a gain of only 1,000. Typically, retail would add substantially more jobs than that in October. General merchandise stores employed 37,900 in October and cut 900 jobs over the past 12 months. Wholesale trade showed weakness in October by cutting 800 jobs. Meanwhile, transportation and warehousing shed 500.
- Government added less than the normal amount in October as the school year reached full fall employment. This followed unusually strong gains during the prior three months. Federal government followed its normal autumn trend by cutting 600 jobs. State government also closely tracked its normal pattern by adding 5,100 at state universities. In the prior month, local education surpassed normal trends by adding 16,300 in September. Its employment stood at 103,500 in October, which was 5,200 jobs above its year-ago figure.
- Professional and business services cut 2,300 jobs in October, but grew by 5,600 jobs or about 3 percent over the year. Employment services, which includes leasing firms and those supplying temporary help, cut 1,600 jobs in October and 1,200 over the past 12 months. Management of companies and enterprises was down 400 jobs in October.
- Construction employment continues to expand in Oregon, despite indications of a national downturn in residential construction. The pace of job growth doesn’t seem to be waning either; 9,500 jobs were added in the past 12 months for a growth rate of nearly 10 percent. In October, employment rose by 800 during a month that typically brings a loss of 700. Heavy and civil engineering construction added 500 jobs, while building foundation and exterior contractors added 700.
- Information added 1,000 jobs in October. However, this was merely a rebound from losses in the prior two months. Over the longer term, the industry has been steady at close to 33,000 jobs for the past three years.
- Other services gained 500 jobs, when a loss of 400 is expected in October. The industry, which includes repair and maintenance firms, personal and laundry services, and religious organizations, has grown by 800 jobs per year over the past four years.
- Educational and health services was noteworthy because of a large upward revision to the September job totals. This major industry now shows a seasonally adjusted gain of 400 jobs for September. The industry added 9,200 jobs or 4.5 percent in the 12 months ending in October. The monthly business survey indicates very rapid growth in private-sector educational services over the past year, with employment up by 2,400 jobs. About one-third of total employment in private education is in elementary and secondary schools, while another third is in private colleges.
Unemployment (Household Survey Data)
Oregon’s seasonally adjusted unemployment rate was 5.1 percent in October and 5.4 percent in September. The October reading puts the rate slightly below the rates prevalent during prior months this year when Oregon’s unemployment rate ranged from a low of 5.3 percent in January to a high of 5.6 percent in February, May, and July. The October rate was below the year‑ago figure of 5.9 percent. In October, 85,902 Oregonians were unemployed, compared with 98,348 in October 2005.
The Oregon Employment Department will release statewide unemployment rate and employment survey data for November 2006 at 11 a.m. on Monday, Dec. 18, 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.
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