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| Oregon statewide unemployment rate July 2008 | ||
| 08/11/2008 | ||
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CONTACT: Art Ayre State Employment Economist (503) 947-1268 Art.L.Ayre@state.or.us Oregon’s Employment Situation: July 2008 Oregon’s seasonally adjusted unemployment rate rose from 5.5 percent in June to 6.0 percent in July. The U.S. seasonally adjusted unemployment rate rose from 5.5 percent in June to 5.7 percent in July. In July, Oregon’s seasonally adjusted nonfarm payroll employment fell by 3,600, following a gain of 1,400 in June. Industry Payroll Employment (Establishment Survey Data) In July, total seasonally adjusted payroll employment dropped by 3,600, the fourth monthly job loss over the past five months. Payroll employment stood at 1,730,600, which is 11,300 lower than the peak reached in February. This job loss over the most recent five months is equal to 0.6 percent of nonfarm payroll employment and has averaged 2,300 per month. In July, three major industries posted substantial seasonally adjusted job losses: construction (-1,200 jobs); manufacturing (-2,400); and educational and health services (-1,100). Meanwhile, professional and business services added 2,200 jobs and was the only major industry sector to post a substantial monthly job gain. Construction added only 1,700 jobs, which was less than the expected seasonal gain of 2,900 for July. Most published industries within construction added a modest number of jobs for the month. One exception was building equipment contractors, which added 1,500 jobs. Heavy and civil engineering construction cut 600 jobs in July and is down 1,900 jobs since July 2007. Construction employment is down 10,000 jobs or 9.1 percent since July 2007. Manufacturing added only 300 jobs in July, at a time of year when the expected gain was 2,700. Manufacturing has seen a substantial contraction over the past 12 months, shedding 8,800 jobs in that time. The losses have been predominantly in the durable goods sector, which is down 9,600 jobs since July 2007. In July, most of the industries within durable goods were flat. The exception was transportation equipment manufacturing, which lost 900 jobs. Transportation was hit by rapidly dropping demand in the motor coach manufacturing sector this year. Nondurable goods manufacturing added 900 jobs in July and was up 800 over the year. This sector was aided by the addition of 500 jobs in food manufacturing. Educational and health services posted a rare seasonally adjusted job decline in July. The sector reported 3,400 fewer jobs, which was below the typical July loss of 2,300. Despite the one-month dip, the industry has been growing rapidly and steadily for many years. Employment is up 9,500 jobs or 4.6 percent since July 2007. Professional and business services was the lone major industry sector adding many jobs on a seasonally adjusted basis in July. Its gain of 2,200 was more than the normal flat trend for the industry in July. The gain for the month puts the industry back on its track of slow growth over the prior two years. Since July 2007, the industry has added 2,300 jobs or 1.2 percent. Two positive trends were seen in July within administrative and support services: Employment services added 700 jobs, and services to buildings and dwellings added 800 jobs. Unemployment (Household Survey Data) In July, Oregon’s seasonally adjusted unemployment rate rose by half a percentage point in one month to reach 6.0 percent. Thus, the state’s rate has risen by a full percentage point since reaching a recent low of 5.0 percent in February through April 2007. In July 114,032 Oregonians were unemployed, an increase of 13,401 compared with July 2007 when 100,631 were unemployed. The Oregon Employment Department will release statewide unemployment rate and employment survey data for August 2008 at 11 a.m. on Monday, September 15, 2008. For the complete version of the news release, including tables and graphs, visit: www.QualityInfo.org/pressrelease. For help finding jobs and training resources, visit one of the state's WorkSource Oregon Centers or go to: www.WorkSourceOregon.org. Equal Opportunity program — auxiliary aids and services available upon request to individuals with disabilities. |
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