In Oregon, nonfarm payroll employment grew by 6,900 in May, following monthly gains averaging 11,400 in the prior four months. Monthly gains in May were largest in private education (+3,400 jobs); professional and business services (+2,900); construction (+900); and financial activities (+900). Only one major industry shed more than 500 jobs in May: transportation, warehousing, and utilities (-800 jobs).
In May, Oregon’s nonfarm payroll employment totaled 1,864,000, a drop of 109,000 jobs, or 5.5% from the prerecession peak in February 2020. Oregon’s employment dropped to a low of 1,687,500 by April 2020. Since then, Oregon has recovered 176,500 jobs, or 62% of the jobs lost between February and April 2020.
Leisure and hospitality accounts for the bulk of Oregon’s jobs not recovered since early 2020. It employed 169,600 in May, and added only 1,600 jobs in the most recent two months. The industry is still 46,700 jobs below its peak month of February 2020, so it accounts for 43% of overall nonfarm payroll jobs lost since Oregon’s prerecession peak. The restaurants, bars, and hotels that make up accommodation and food services have shown flat hiring trends over the most recent three months; the employment level in this component industry has been close to 150,000 in March, April, and May.
Read the full press release on Qualityinfo.org.
No comments:
Post a Comment