Nonfarm payroll employment rose 20,100 jobs in March, following a gain of 15,300, as revised, in February. Two-thirds of all the jobs gained in March were in leisure and hospitality (+13,900 jobs). Three other major industries each added more than 1,000 jobs: manufacturing (+2,000 jobs); professional and business services (+1,300); and transportation, warehousing, and utilities (+1,100). Construction and private educational services each added 700 jobs. All other major industries performed close to their normal seasonal patterns.
The 20,100 total nonfarm jobs added in March was Oregon’s largest monthly gain since 38,300 jobs were added in July. March’s gain was the third monthly increase, following a large drop in December that was the result of temporary, heightened restrictions at the time. In March, Oregon’s nonfarm payroll employment totaled 1,840,600, a drop of 132,400 jobs, or 6.7% from the pre-recession peak in February 2020. Oregon’s employment dropped to a low of 1,687,500 by April 2020. Since then, Oregon has recovered 153,100 jobs, or 54% of the jobs lost between February and April 2020.
Oregon’s unemployment rate edged down to 6.0% in March, from 6.1% in February. For the past three months, Oregon’s unemployment rate has ticked down by a tenth of a point each month. During the past 11 months the pace of recovery in Oregon’s unemployment rate has mirrored the national experience. The U.S. unemployment rate dropped to 6.0% in March, from 6.2% in February.
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