Oregon adds 11,000 jobs in various sectors during January
The Non-farm Payroll Employment had an impressive growth in Oregon adding 11,000 jobs in January. The situation in December was a loss of 1,700 jobs.
Additionally, the unemployment rate in the state was 4.3 percent for the past three months as per the State Employment Department. Six industries were the major players adding around 1,000 jobs individually in January. There was growth in the goods-producing industries, and manufacturing also added 2,500 posts. The figure for construction was 1,800. Moreover, the Retail Trade added 1,600 jobs, whereas Professional and Business Services added 1,400.
The health care continued the trend and added 1,400, and the increase in the private educational services was 1,000. Not a single major industry in Oregon reduced jobs substantially in January. Furthermore, the increase in the Non-farm Payroll Employment was 28,200 jobs, corresponding to 1.5 percent, after January 2018. The agency stated that the growth rate was aligned with the recent eight months. The annual gains had an average of 29,000 jobs, but there was a deceleration from 40,000 jobs added in the past five years.
Furthermore, during the last 12 months, there was a superior growth in Transportation, Warehousing, and Utilities. Moreover, the major industries, expanded by 3,800 jobs (5.9 percent). Construction grew rapidly in the recent years, but had a cool down in the past 12 months, by just adding 4,100 jobs (4 percent).
Manufacturing added 6,600 jobs, (3.4%). The major industries where employment was within 500 posts in January 2018 level contributed to the overall slow rate in Oregon. Conversely, there was a reduction of 1,800 jobs, (-0.8%) in retail trade. It was the only major industry to do so in the last 12 months.
Some other facts
Manufacturing of Durable goods had a gain in the last four months. There was a rapid expansion in the industry in the last 12 months, showing a growth of 4.5 percent from Jan 2018. These component industries posted gains during that time:
- Machinery manufacturing – 1,100 jobs, 8.0%,
- Primary metal manufacturing – 600 jobs, 7.2%,
- Manufacturing in Semiconductor and electronic component 1,500 jobs – 5.1%, and finally,
- Transportation equipment manufacturing- 500 jobs, 4.2%.
Finally, the unemployment rate in Oregon was constant at 4.3 percent in January, as also in November and December. Annual revision of the labor force data demonstrates that the unemployment rate, had a range between 4.0 to 4.3 percent, since Dec 2016. The low was 4.0 percent in May to July 2018.
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