Tuesday, May 13, 2014

March and April Combined Job Growth Highest Since 2005

Oregon gained 6,100 jobs in April, following an even stronger gain of 8,900 jobs in March. The combined job gains for March and April (+15,000) marked the highest two-month gain since the end of 2005.

Rapid growth over the past two months indicates that economic expansion is speeding up. In fact, Oregon is adding jobs more quickly than the nation. While U.S. job growth was 1.7 percent, Oregon's growth reached 2.6 percent in April. 

Since April 2013, the private sector has grown at about 3.0 percent, or 41,000 jobs.  Two stand-out industries over the past 12 months were construction (+10.9%, or 8,000 jobs), and professional and business services (+4.1%, or 8,500 jobs).

Oregon's unemployment rate was unchanged in April at 6.9 percent.  Even though there was no change over the month, Oregon's unemployment rate has dropped by a full percentage point since April 2013 when the rate was 7.9 percent.

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