FOR IMMEDIATE RELEASE:
December 18, 2024
CONTACT INFORMATION:
Gail Krumenauer, State Employment Economist
(971) 301-3771
Video and Audio available at 10 a.m. PT
David Cooke, Economist (971) 375-5288
In November, Oregon’s seasonally adjusted nonfarm payroll employment gained 5,100 jobs, following a revised increase of 3,500 jobs in October. November’s gains were largest in health care and social assistance (+2,300 jobs); construction (+2,100); and professional and business services (+700). Declines were largest in leisure and hospitality (-700 jobs).
Private health care and social assistance has been adding jobs very rapidly since June 2022. It expanded by 41,700 jobs, or 15.6%, during that 29-month period. The fastest growing components during that time were social assistance (+17,800 jobs, or 27.0%) and nursing and residential care facilities (+9,400 jobs, or 19.3%). The other two component industries also added jobs, but grew less rapidly: hospitals (+6,800 jobs, or 11.9%) and ambulatory health care services (+10,200 jobs, or 10.7%).
Construction rebounded in November from a three-month dip, returning the sector’s total employment to 117,500, about where it had been from July 2022 through August 2024.
In the past 12 months, health care and social assistance (+17,500 jobs, or 6.0%) grew rapidly, while government (+6,900 jobs, or 2.2%) added the second most jobs. In that time, only two major industries declined by 1,000 jobs or more: retail trade (-1,700 jobs, or -0.8%) and leisure and hospitality (-1,400 jobs, or -0.7%). About half of the major industries were essentially flat over the year, with job changes of less than 1,200 in either direction.
Oregon’s unemployment rate was 4.1% in November and 4.0% in October and has consistently remained between 4.0% and 4.2% since October 2023. The U.S. unemployment rate was 4.2% in November and 4.1% in October.
Next Press Releases
The Oregon Employment Department plans to release the November county and metropolitan area unemployment rates on Tuesday, Dec. 24, and the next statewide unemployment rate and employment survey data for December on Thursday, Jan. 23.
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