Oregon Employment Dept. Release – In September, Oregon’s seasonally adjusted nonfarm payroll employment rose by 8,100 jobs, following a revised decline of 700 jobs in August. September’s over-the-month job gains were largest in construction (+3,200 jobs); professional and business services (+2,200); and leisure and hospitality (+900). Most of the other major industries were relatively flat over the month, with none cutting more than 200 jobs. Construction employment surged to another record high in September, gaining 3,200 jobs. At 119,900 jobs in September, construction is up 2,300 jobs, or 2.0%, since September 2022. Most of the gains in the past 12 months were in specialty trade contractors, which added 4,000 jobs. Meanwhile, construction of buildings had the same employment level as the prior year. Professional and business services grew at a moderate pace over the past year, adding 3,900 jobs, or 1.5%. This gain was led by management of companies and enterprises, which added 2,400 jobs, or 4.8%. Professional and technical services grew moderately, adding 1,600 jobs, or 1.4%. But the third component industry, administrative and waste services, was nearly flat over that period, cutting 100 jobs, or -0.1%. And within that industry, employment services was particularly weak, shedding 2,000 jobs, or -4.5%, over the past 12 months. Leisure and hospitality expanded at a consistent and rapid pace over the past 24 months. During that time, it was up 23,900 jobs, or 12.8%. Despite these rapid gains, at 210,800 jobs in September, it is still 5,700 jobs below its pre-recession peak reached in February 2020. Oregon’s unemployment rate was 3.5% in September and 3.4% in August. September was the fourth consecutive month in which Oregon’s unemployment rate was between 3.4% and 3.5%. The U.S. unemployment rate was 3.8% in both August and September.
