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| Oregon's Employment Situation: April 2008 | ||
| 05/12/2008 | ||
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CONTACT INFORMATION: David Cooke, Economist, (503) 947-1272 FOR IMMEDIATE RELEASE Oregon’s seasonally adjusted unemployment rate was 5.5 percent in April and the revised figure for March was 5.6 percent. The U.S. seasonally adjusted unemployment rate was essentially unchanged at 5.0 percent in April and 5.1 percent in March. In April, Oregon’s seasonally adjusted nonfarm payroll employment declined 1,600, following a loss of 2,700 jobs in March. Industry Payroll Employment (Establishment Survey Data) In April, total seasonally adjusted payroll employment dropped by 1,600, the second consecutive monthly decline. Payroll employment stood at 1,737,600, the lowest level since 1,735,100 in October 2007. In April, most of the major industries performed in line with their typical seasonal pattern. However, two major industries posted sizeable seasonally adjusted job declines: professional and business services (-1,700 jobs) and leisure and hospitality (-1,000). Professional and business services added only 1,400 jobs (not seasonally adjusted) when a gain of 3,100 would be the normal seasonal pattern in April. This major industry was stronger than normal in the winter months and is now coming back into line with its longer term trend. With 198,900 jobs, the industry is up 2,700 or 1.4 percent in the past 12 months. One of its component sectors, professional and technical services has added 1,400 jobs since April 2007. Another — management of companies and enterprises — has added 1,500. Leisure and hospitality added only 1,100 jobs, which was about half the normal April gain. High gasoline prices may have held consumer discretionary spending in check, leading to weakened hiring at motels and restaurants. The accommodation industry added only 500 jobs for the month and is down 1,200 jobs over the past 12 months. Full-service restaurants showed similar weakness, adding only 200 jobs in April and is down 800 jobs in the past 12 months. Manufacturingwas flat in April, with a gain of 1,100 jobs in nondurable goods, balancing a drop of 1,100 in durable goods. Wood product manufacturing continues to be hit hard by the declines in the national housing. Employment in this industry dropped 800 in April and is down 2,400 since April 2007. Computer and electronic manufacturing has shed employment over the past year and a half. The industry employed 39,100 in April, reaching its lowest level in more than 12 years. Construction normally starts to add substantial numbers of jobs in March and April. In the past two months, these job gains have been below typical seasonal patterns. The April gain was only 900 jobs, when a gain of 1,400 would be the norm. Several of the component industries within construction showed outright job declines for the month: construction of buildings (-200 jobs), building foundation and exterior contractors (-200), and other specialty trade contractors (-400). Since April 2007, construction is down 6,500 jobs, or 6.4 percent. Educational and health services continued to be the fastest growing major industry. It added 800 jobs in April, about double its normal seasonal pattern. Social assistance added 500 jobs in April and is up 2,100 jobs or more than seven percent in the past 12 months. This industry includes about 9,000 payroll jobs in child day care services, more than 5,000 in vocational rehabilitation services, and about 9,000 in individual and family services such as services for the elderly and disabled. Unemployment (Household Survey Data) Oregon’s seasonally adjusted April unemployment rate of 5.5 percent was significantly above the lowest level over the past several years, which was reached in February, March and April 2007, when the rate was 5.0 percent. The March unemployment rate of 5.6 percent was revised downward by one tenth of a point from the preliminary figure reported in last month’s press release. In April 108,273 Oregonians were unemployed. The Oregon Employment Department will release statewide unemployment rate and employment survey data for May 2008 at 11 a.m. on Monday, June 16, 2008. |
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| http://www.qualityinfo.org/pressrelease | ||
