Tuesday, September 15, 2015

Oregon Experiencing Fast Job Growth, Unemployment Rate Increases

Jobs continued to grow in Oregon in August, increasing by almost 4,400, following a revised gain of 7,400 in July. In August, two major industries gained the most jobs: leisure and hospitality added 2,100, and government added 1,600. The other 12 major industries performed close to their normal seasonal patterns.

Over the past 12 months, Oregon’s payroll employment has expanded by 60,400 jobs, or 3.5 percent. This is the state’s fastest job growth rate since February 2005.

Despite strong job gains, Oregon’s unemployment rate edged up to 6.1 percent in August from 5.9 percent in July. However, the unemployment rate continues to be lower than last year (6.9% in August 2014).

"The unemployment rate in August continued this summer’s upward trend, which was caused by a larger than usual number of people joining the labor force as unemployed," according to state employment economist Nick Beleiciks. "Employers are adding jobs at full speed, so many of these job seekers should be able to find work soon."

For more information, read August's employment situation.

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