FOR IMMEDIATE RELEASE:
October 16, 2024
CONTACT INFORMATION:
Gail Krumenauer, State Employment Economist
(971) 301-3771
Video and Audio available at 10 a.m.
David Cooke, Economist
(971) 375-5288
Oregon’s Employment Situation Sees Little Change in September
Oregon’s unemployment rate was 4.0% in August and September and has been in a tight range between 4.0% and 4.2% since October 2023. The U.S. unemployment rate was little changed at 4.1% in September from 4.2% in August.
Other labor force indicators also reflected stability. Oregon’s labor force participation rate was 63.0% in September, the same as in each of the prior four months. Prior to that it generally rose slowly over the past four years, from 62.0% in September 2020, indicating a larger share of Oregonians working or seeking jobs. Meanwhile, Oregon’s labor force was stable during the past five months, remaining close to 2.19 million people.
In September, Oregon’s seasonally adjusted nonfarm payroll employment gained 800 jobs, following a revised increase of 900 jobs in August. September’s gains were largest in health care and social assistance (+700 jobs). Declines were largest in construction (-1,500). None of the other major industries experienced a monthly change of more than 600 jobs.
In the past 12 months, health care and social assistance (+15,100 jobs, or 5.2%) grew rapidly, while government (+5,700 jobs, or 1.8%) added the second most jobs. Only three other major industries—other services; wholesale trade; and transportation, warehousing, and utilities—grew since September 2023, each adding 1,400 jobs.
The other nine major industries declined during the past 12 months. The five industries that cut more than 1,000 jobs were retail trade (-7,000 jobs, or -3.4%), professional and business services (-5,000 jobs, or -1.9%), construction (-4,000 jobs, or -3.4%), leisure and hospitality (-2,500 jobs, or -1.2%), and financial activities (-2,200 jobs, or -2.1%).
Next Press Releases
The Oregon Employment Department plans to release the September county and metropolitan area unemployment rates on Tuesday, Oct. 22, and the next statewide unemployment rate and employment survey data for October on Thursday, Nov. 14.
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