Oregon’s Unemployment Rate Rises As 2400 New Jobs Are Added In The Hospitality And Food Industries

The state of Oregon’s unemployment rate increased slightly from 3.7% in August to 3.8% in September.

In September, there was a loss of 600 jobs in non-farm payroll employment in Oregon. This was the first time that there had been a decrease in jobs when there had been gains for the previous 12 months in a row.

The sectors that shed the most jobs in September were those relating to financial activities (-1,100 jobs), government (-1,500 jobs), and other services (-1,500 jobs) (-700). These losses were counterbalanced by gains in the sectors of manufacturing (+800), health care and social assistance (+1,000), leisure and hospitality (+600), and professional and business services (+1,400).

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In September, the state’s private sector added 500 jobs, bringing the total number of jobs in the state to an all-time high of 1,676,100. In February of 2020, this was 4,400 jobs or 0.3% more than it had been at its pre-recession peak.

Over the past several months, the number of jobs overall has decreased due to a decline in employment within other services, which is one of the major businesses with the smallest workforce (61,200 jobs in September). After adding up to 4,200 employees between April and July, it slashed 2,700 jobs between July and September, bringing the total number of jobs eliminated to 2,700.

In the month of September, a variety of businesses, including civic and social organisations, religious organisations, and nail salons, eliminated positions within their workforce.

Oregon's Unemployment Rate Rises As 2400 New Jobs
Oregon’s Unemployment Rate Rises As 2400 New Jobs

After a dismal result in 2021, the fields of health care and social assistance have had a significant resurgence this year. It added 10,800 positions from the beginning of the year until the end of September 2022. During that time period, each of its four constituent businesses added jobs, although ambulatory health care services (+4,500 jobs) and social assistance (+3,100 jobs) were the industries that expanded at the fastest rate and added the most positions.

The hospitality and food services industry continued to rebound from the Pandemic Recession, adding 2,400 jobs in September and 16,100 positions over the course of the preceding year. Despite the latest increase, it is still 6,500 lower than its pre-pandemic high, which was set in February 2020.

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The most current figure for Oregon’s unemployment rate is now higher than the recent low of 3.5%, which was obtained in May, June, and July. After reaching a high of 3.7% in August, the unemployment rate in the United States fell to 3.5% in September.

Since March, the unemployment rate in the United States and the unemployment rate in Oregon have both averaged 3.6% throughout this time period, albeit having moved slightly differently during the past few months.

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