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News Release
Employment in Oregon November 2017 News Release - 12/19/17

Oregon's Unemployment Rate Was 4.2 Percent in November, as Job Growth Slowed

Oregon's unemployment rate was essentially unchanged at 4.2 percent in November from 4.3 percent in October, remaining near the U.S. unemployment rate of 4.1 percent in November.

"Oregon's low unemployment rate and other positive labor force measures indicate there's a shrinking pool of available job seekers," said Nick Beleiciks, Oregon's state employment economist. "Businesses are having difficulty finding applicants, and that has slowed Oregon's job growth in the second half of this year."

In November, Oregon's nonfarm payroll employment dropped by 1,800 jobs, following a revised gain of 7,900 jobs in October. Monthly losses were concentrated in professional and business services, which cut 2,000 jobs, and in manufacturing, which cut 1,700. Counterbalancing these job losses were gains of 1,300 in other services and 1,200 in leisure and hospitality.

The job losses in November, coupled with the downward revision to October, slowed the pace of Oregon's over-the-year growth rate. Since November 2016, Oregon has added 30,600 nonfarm payroll jobs, which equals an annual growth rate of 1.7 percent. Oregon is now gaining jobs at a slightly faster pace than the national growth rate of 1.4 percent over the past 12 months. This is a change after a long stretch of growth that far outpaced the national growth rate.

Construction continues to lead Oregon's over-the-year gains as it added 7,400 jobs, equaling 7.9 percent growth. Only two other industries expanded by more than 2 percent: health care and social assistance (+6,000 jobs, or 2.6%) and leisure and hospitality (+5,200 jobs, or 2.6%). Many of Oregon's major industries expanded within the one-percent range. Professional and business services (+2,600 jobs, or 1.1%) growth has slowed dramatically, to about 1 percent, from about 4 percent per year throughout much of the prior seven years. Meanwhile, several industries have stopped growing, as wholesale trade; manufacturing; mining and logging; and other services each had roughly the same employment as a year ago.

Next Press Releases
The Oregon Employment Department plans to release the November county and metropolitan area unemployment rates on Tuesday, December 26th, and the next statewide unemployment rate and employment survey data for December on Wednesday, January 17th.??NLG


Notes:
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 Oregon Employment Department publishes payroll employment estimates that are revised quarterly by using employment counts from employer unemployment insurance tax records. All department publications use this Official Oregon Series data unless noted otherwise. This month's release incorporates the April, May and June 2017 tax records data. The department continues to make the original nonfarm payroll employment series available; these data are produced by the BLS.



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.

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