Tuesday, August 18, 2015

Oregon Adds 4,600 Jobs in July and the Unemployment Rate Increases to 5.9 Percent

Payroll employment in Oregon rose at a brisk pace in July, adding 4,600 jobs. Five major industries added 1,000 jobs or more over the month, with construction (+2,300 jobs) and professional and business services (+1,700) adding the most.

Oregon’s unemployment rate rose to 5.9 percent in July from 5.5 percent in June. The rate, which is based primarily on data from the Current Population Survey, can be volatile at times. Oregon’s unemployment rate dropped dramatically in the early months of 2015 and has bumped back up a little in more recent months.

Despite the increase, Oregon’s unemployment rate was significantly below its year-ago figure of 7.0 percent in July 2014. Oregon’s rate remained close to the U.S. rate of 5.3 percent in July.

“Oregon’s job growth continued at a rapid pace in July,” said Nick Beleiciks, Oregon’s state employment economist. “We’re also seeing a large number of people entering the labor market or who are leaving their jobs voluntarily. They account for about half the increase in unemployment. Oregon’s economy is adding jobs so fast right now that many of them will find work quickly.”

Read the full press release and watch State Employment Economist Nick Beleiciks discuss this month’s employment situation: Oregon Employment Department Press Release.

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