Oregon’s unemployment rate was 4.4 percent in February and 4.3 percent in January. Oregon’s unemployment rate has ranged between 4.0 percent and 4.4 percent since November 2016, with the low of 4.0 percent occurring in May, June, and July 2018. The U.S. unemployment rate declined to 3.8 percent in February from 4.0 percent in January. Oregon’s total nonfarm payroll employment changed little in February (-500 jobs), following a revised, large gain of 12,800 jobs in January. Employment in financial activities, government, and construction continued to trend up, while transportation, warehousing and utilities decreased. Since February 2018, Oregon’s nonfarm payroll employment increased by 29,500 jobs, or 1.5 percent. This growth rate was in line with the most recent nine months in which annual gains averaged 29,100 jobs. Over the past 12 months, the U.S. expanded at a slightly faster rate of 1.7 percent. In February, employment in financial activities gained 900 jobs. Over the year, financial activities has added 1,200 jobs, or 1.2 percent. Government expanded by 700 jobs in February and since February 2018, it rose by 4,700 jobs, or 1.6 percent. Construction added 600 jobs in February. Construction led all industries with over-the-year growth of 4,600 jobs, or 4.4 percent.
