Oregon's Unemployment Rate Drops to Record Low 3.9 Percent

Oregon’s unemployment rate was 3.9 percent in July, which was Oregon’s lowest unemployment rate since comparable records began in 1976. Oregon’s June unemployment rate was 4.0 percent. The U.S. unemployment rate matched Oregon’s rate in both months: 3.9 percent in July and 4.0 percent in June.

In July, Oregon’s nonfarm payroll employment rose by 5,400 jobs, following a revised (and much bigger) over-the-month gain of 6,600 jobs in June. Updated payroll employment figures covering the spring and early summer also show bigger job gains than originally estimated. 

Monthly job gains in July were concentrated in retail trade (+1,900 jobs), construction (+1,700), and health care and social assistance (+1,400). The only major industry performing below seasonal expectations was government, which cut 2,200 jobs.

Oregon’s nonfarm payroll employment increased by 45,300 jobs (2.4%) since July 2017. Oregon’s gains over the past 12 months were largest by far in construction, which added 11,000 jobs, (+11.2%). Over the year, many sectors added jobs at a relatively fast pace: leisure and hospitality (+8,100 jobs, or 3.9%); manufacturing (+6,300 jobs, or 3.3%); professional and business services (+7,900 jobs, or 3.2%); and health care and social assistance (+7,600 jobs, or 3.2%). 

You can find more information about Oregon's current employment situation in the full press release.