Oregon’s Employment Situation Changed Little in July, Aug. 13

Industry Payroll Employment (Establishment Survey Data) – Payroll employment was essentially unchanged in July. Seasonally adjusted nonfarm payroll employment added 200 jobs, following a revised loss of 3,000 in June. Three major industries expanded substantially in July: manufacturing (+1,600 jobs), health care and social assistance (+1,300) and other services (+1,400). Meanwhile, two major industries contracted substantially: retail trade (-1,400 jobs) and private educational services (-1,300). Manufacturing has been on a steady expansionary trend over the past four years. Seasonally adjusted employment in the industry bottomed at 162,500 in October 2009. Since then the industry added back 17,900 jobs, reaching a total of 180,400 in July. Gains within durable goods manufacturing were noteworthy over the past 12 months. Wood products grew by 1,000 jobs since July 2013, machinery added 800, and transportation equipment added 1,200. Within the nondurable goods component, food manufacturing added 1,000 during that time. Health care and social assistance accelerated its pace of hiring in recent months. The 1,300 seasonally adjusted job gain in July was more than the average monthly gain of the past 12 months. Since July 2013 the industry added 8,100 jobs, which equaled 3.9 percent growth and was one of the fastest growing economic sectors in Oregon. All of its component industries added substantially during that time, with social assistance growing the fastest by adding 2,500 jobs to reach 31,900 in July. Retail trade contracted for the second consecutive month, following strong gains earlier in the year. This put retail up only 2,000 jobs, or 1.0 percent, since July 2013. Nationally, surveys suggest that overall retail store visits are down since last summer. Some retailers are reporting slower sales growth even as total consumer spending continues to expand. In Oregon, the only published retail industry which grew by more than 1,000 jobs over the year was motor vehicle and parts dealers, which added 1,300 jobs since July 2013.