Oregon’s Job Growth Cools in September

In September, Oregon’s total nonfarm payroll employment added 200 jobs, following a loss of 900 jobs in August. Job gains have cooled recently, averaging only 100 per month over the past five months. This flat economic trend is in contrast to gains that averaged 3,000 jobs per month in all of calendar year 2018, and 4,100 jobs per month during the rapid and consistent growth Oregon experienced during the prior five-year period.

During September, some industries expanded while others contracted. Monthly gains were strongest in health care and social assistance (+2,300 jobs); wholesale trade (+1,000); and manufacturing (+400). These gains were offset by cutbacks in government (-2,100 jobs); financial activities (-500); professional and business services (-500); and retail trade (-400).

Health care and social assistance has grown consistently for many years. Over the past 12 months, the industry grew by 9,000 jobs, or 3.5 percent, with each of its components adding jobs rapidly as demand for health care services increased along with Oregon’s expanding and aging population. Manufacturing continued to grow faster than Oregon’s overall economy over the past 12 months, with gains of 6,100 jobs, or 3.1 percent.

Retail trade is down by 3,900 jobs over the past 12 months, while transportation, warehousing and utilities counterbalanced that loss with a gain of 4,100 jobs as more shopping takes place online.

Read the full press release here.