Tuesday, March 15, 2011

Strong job growth for Oregon in February

This morning the Oregon Employment Department released the employment numbers and unemployment rate for February. There's certainly news to cheer about this month: the gain in February was the strongest seen in Oregon since 1996!

Seasonally adjusted job growth totaled 9,800 for the state in February
. This marks the fifth consecutive month of job gains, and also the fifth consecutive month of over-the-year job growth statewide. Employment has increased by 32,300 since February 2010.

Industries with the largest monthly gains included manufacturing (+2,400 jobs); construction (+2,000); and professional and business services (+2,100). Educational and health services (-1,000) was the only major industry to post a loss in February.

The largest over-the-year job increases in Oregon occurred in professional and business services (+7,100); educational and health services (+5,600); and trade, transportation, and utilities (+5,200). The financial services sector (-500) was the only one with an employment decline from February 2010.

Oregon's seasonally adjusted unemployment rate was 10.2 percent in February. While that's essentially unchanged from 10.4 percent in January -- and significantly higher than 8.9 percent nationwide -- the February rate is the lowest seen in Oregon for 25 months.

Read more in the full press release.

*Employment is nonfarm payroll employment. All numbers in this post are seasonally adjusted.

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