Tuesday, April 17, 2012

Oregon (Un)Employment Essentially Flat in March

Oregon's seasonally adjusted unemployment rate was 8.6 percent in March, essentially unchanged from the revised rate of 8.7 percent in February. Nonfarm payroll employment also changed little (-300) jobs between February and March.

March marks the eighth consecutive month with a decline in the number of unemployed Oregonians. However, more than 183,000 people in the state were unemployed in March. In addition, after nearly three years of a generally declining unemployment rate, the drop to 8.6 percent in March matched the peak rate during the prior recession (8.6% in June 2003).

Oregon netted a loss of 300 jobs in March; the private sector saw an increase of 500 jobs over the month, while government payrolls declined by 800 jobs. Trade, transportation, and utilities (+1,000 jobs) saw the largest monthly gains of any sector, followed by other services (+900). Along with government, the educational and health services and professional and business services sectors each shed 800 jobs in March.

Between March 2011 and March 2012, total employment rose by 1,600 jobs statewide. The private sector added 7,500 jobs over the year, while government lost 5,900 jobs. Industries with the largest year-over-year gains included trade, transportation, and utilities (+4,500) and educational and health services (+4,200).
Oregon's March employment numbers are preliminary estimates prepared by the U.S. Bureau of Labor Statistics. These numbers will be revised next month, as more data becomes available. February's revised nonfarm payroll employment estimates showed a loss of 2,800 jobs for the month; originally the preliminary estimates showed a February loss more than twice that size.

For more information, see the full Oregon Employment Situation news release.

No comments: