Friday, October 2, 2020

Health Care and Social Assistance to Lead Long-Term Employment Growth in Oregon

Oregon’s total employment will grow by 181,800 jobs between 2019 and 2029, according to new projections from the Oregon Employment Department. The projections point to modest job growth between 2019 and 2029, although many job openings are expected due to the need to replace workers who leave their occupations.

In 2019, there were 2,120,000 jobs in Oregon. The 9 percent increase in employment between 2019 and 2029 includes private-sector gains of 156,400 jobs, 16,500 jobs in government, and an additional 8,900 gain in jobs for self-employed Oregonians.

Big Industries Add the Most Jobs
Private health care and social assistance will add 46,300 jobs, the most of any sector statewide. It’s followed by professional and business services with 33,000 additional jobs in 2029. There may be little surprise seeing health care and professional and business services among the top industries adding jobs, as they are two of the largest industries in the state. It’s notable that in addition to their size, these are also the fastest-growing industries.

Fast growth in health care and social assistance (15%) can be attributed to the growth and aging of the state’s population. Health care will account for one out of every five new jobs created in Oregon by 2029. Within health care and social assistance, ambulatory health care services (20%), such as doctor and dentist offices, chiropractors, physical and speech therapists, and other specialists, and nursing and residential care facilities (17%) are expected to grow much faster than hospitals (10%).

Professional and business services growth (13%) will be driven by gains in professional and technical services such as computer systems design (26%) and management of companies and enterprises (18%). Management of companies and enterprises includes corporate offices headquartered in Oregon.

Construction is the third-fastest growing industry, as it is expected to grow by 11 percent between 2019 and 2029. Demand for construction will be driven by population and economic growth, low residential vacancy rates and associated rising prices. Residential building construction is expected to increase by 14 percent adding 2,600 jobs. Nonresidential building construction should increase by 12 percent adding 1,400 jobs. Building equipment contractors are projected to add 3,400 jobs, a gain of 11 percent. This includes contractors for plumbing, heating, air conditioning, electrical and other wiring installations. Building finishing contractors, which includes contractors for drywall and insulation, flooring, and finish carpentry, are projected to add 1,300 jobs (8%).

Read Projections Economist Felicia Bechtoldt's full article or check out our projections page for additional information.

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