In Oregon, there were 600 fewer jobs on non-farm payrolls in September.
Despite being a slight decrease, the Oregon Employment Department reported that this was the first time jobs had decreased after 12 straight months of gains.
According to State Employment Economist Gail Krumenauer, losses in the other services, government, and financial activities categories were the greatest in September. They each lost 1,500, 1,100, and 700 jobs. These job losses were offset by improvements in manufacturing (800 jobs), health care and social assistance (1000 jobs), professional and business services (1,400 jobs), and leisure and hospitality (600 jobs).
The number of jobs in Oregon’s private sector increased by 500 in September to an all-time high of 1,767,100. This increased employment by 4,400 positions, or.3%, from February 2020’s pre-recession high.
According to the press release, the “other services” sector, one of the smaller significant businesses with 61,200 employees in September, has been responsible for recent job losses. After an increase of up to 4,200 employees between April and July, it slashed 2,700 employees between July and September. Numerous businesses, including civic and social groups, religious institutions, and nail salons, made job cuts in September.
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After a disappointing year in 2021, the healthcare and social assistance sectors significantly improved this year. In the period from January to September 2022, 10,800 jobs were added. During that time, each of its four constituent industries added jobs, but two of them grew the fastest and added the most: Social assistance created 3,100 jobs, while ambulatory health care services added 4,500 jobs.
According to the press announcement, the lodging and food services industry added 2,400 jobs in September and gained 16,100 jobs over the previous 12 months as it recovered from the Pandemic Recession. It is still 6,500 below its pre-pandemic high, which was set in February 2020, despite this recent gain.
According to OED, Oregon’s unemployment rate increased slightly from 3.7 per cent in August to 3.8 per cent in September. That is higher than the most recent low of 3.5%, which was attained in May, June, and July. From 3.7 per cent in August to 3.5 per cent in September, the unemployment rate in the United States decreased. The unemployment rates in Oregon and the United States have both averaged 3.6 per cent since March, notwithstanding modest variations in their recent movements.
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