FOR IMMEDIATE RELEASE
November 15, 2023
CONTACT INFORMATION:
Gail Krumenauer, State Employment Economist
(971) 301-3771
Video and Audio available at 10 a.m.
David Cooke, Economist
(971) 375-5288
In October, Oregon’s seasonally adjusted nonfarm payroll employment declined by 4,600 jobs, following a revised gain of 5,500 jobs in September. October’s losses were largest in professional and business services (-1,600 jobs) and leisure and hospitality (-1,500). Three industries each cut 900 jobs: manufacturing; retail trade; and health care and social assistance. The only industry growing substantially in October was construction, which added 1,500 jobs.
Professional and business services expanded slightly slower than overall employment over the past 12 months, adding 4,400 jobs, or 1.7%, compared with growth of 44,300 jobs, or 2.3%, for total nonfarm payroll employment. While most of the industry grew rapidly over this period, employment services trended downward, cutting 4,100 jobs, or 9.0%, since October 2022.
Although leisure and hospitality gained 8,700 jobs, or 4.3%, in the past 12 months, the industry showed recent weakness with job declines of 300 in September and 1,500 in October. While accommodation and food services cut 2,500 jobs over the past two months, arts, entertainment, and recreation expanded in both months for a combined gain of 700 jobs.
Manufacturing continued to decline, shedding 900 jobs in October. It is down 4,400 jobs, or 2.3%, in the past 12 months. Most of the cuts were in durable goods manufacturing, which is down 4,900 jobs since October 2022. In contrast, nondurable goods manufacturing added 500 jobs over the year.
Construction employment surged to another record high in October, gaining 1,500 jobs. At 123,000 jobs in October, construction is up 6,000 jobs, or 5.1%, since October 2022.
Health care and social assistance grew the fastest of the major industries over the past 12 months, adding 16,300 jobs, or 6.0%. Gains since October 2022 were led by social assistance and nursing and residential care facilities, which each grew by close to 8%.
Oregon’s unemployment rate was 3.6% in October and 3.5% in September. October was the sixth consecutive month in which Oregon’s unemployment rate was between 3.4% and 3.7%. The U.S. unemployment rate was 3.8% in September and 3.9% in October.
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Next Press Releases
The Oregon Employment Department plans to release the October county and metropolitan area unemployment rates on Tuesday, Nov. 21, and the next statewide unemployment rate and employment survey data for November on Wednesday, Dec. 20.
Notes: All numbers in the above narrative are seasonally adjusted except for employment services and the component industries within health care and social assistance. The Oregon Employment Department and the U.S. Bureau of Labor Statistics (BLS) work cooperatively to develop and publish monthly Oregon payroll employment and labor force data. The estimates of monthly job gains and losses are based on a survey of businesses. The estimates of unemployment are based on a survey of households and other sources. The Oregon Employment Department publishes payroll employment estimates that are revised quarterly by using employment counts from employer unemployment insurance tax records. All department publications use this Official Oregon Series data unless noted otherwise. This month’s release incorporates the April, May, and June 2023 tax records data. The department continues to make the original nonfarm payroll employment series available; these data are produced by the BLS. |
The PDF version of the news release can be found at QualityInfo.org/press-release. To obtain the data in other formats such as in Excel, visit QualityInfo.org, select Tools, then choose LAUS or CES under the Economy header. To request the press release as a Word document, contact the person shown at the top of this press release.
To file a claim for unemployment benefits or get more information about unemployment programs, visit unemployment.oregon.gov.
The Oregon Employment Department (OED) is an equal opportunity agency. OED provides free help so you can use our services. Some examples are sign language and spoken-language interpreters, written materials in other languages, large print, audio, and other formats. To get help, please call 503-947-1444. TTY users call 711. You can also send an email to communications@employ.oregon.gov.
El Departamento de Empleo de Oregon (OED) es una agencia de igualdad de oportunidades. El OED proporciona ayuda gratuita para que usted pueda utilizar nuestros servicios. Algunos ejemplos son intérpretes de lengua de señas e idiomas hablados, materiales escritos en otros idiomas, letra grande, audio y otros formatos. Para obtener ayuda, por favor llame al 503-947-1444. Usuarios de TTY pueden llamar al 711. También puede enviar un correo electrónico a communications@employ.oregon.gov.