In May, Oregon’s seasonally adjusted nonfarm payroll employment rose by 4,000 jobs, following a revised gain of 2,400 jobs in April. Health care and social assistance gained 1,900 jobs in May, while leisure and hospitality added 1,000. Monthly declines were largest in retail trade (-800) and construction (-400). Private-sector job growth has been very slow over the year, gaining 3,500 jobs (+0.2%). Health care and social assistance was the primary source of growth with a solid gain of 16,200 jobs (+5.7%). All four component industries have been adding jobs at a rapid clip. Elsewhere in the private sector, manufacturing dropped 3,700 jobs over the year, retail trade lost 3,400, and construction dropped 2,200 jobs in the past year. The public sector added 9,100 jobs over the past 12 months. Local, state, and federal government are all at least 2% above their job counts a year ago. Local education gained 3,400 jobs over the year to reach 142,600 in May. This is the first spring that local schools reached the employment level in spring 2019, prior to the pandemic. Oregon’s unemployment rate was 4.2% in May for the fourth straight month. Looking back at the past few years, Oregon’s monthly unemployment rate has been 4.2% or lower every month since October 2021. The U.S. unemployment rate was 4.0% in May.
