Photo: Ford, Brad
In December, Oregon’s seasonally adjusted nonfarm payroll employment declined by 3,700 jobs, following a revised increase of 3,700 jobs in November. December’s gains were largest in health care and social assistance (+1,900 jobs) and government (+700). Declines were largest in leisure and hospitality (-1,900 jobs); manufacturing (-1,800); financial activities (-1,000); and retail trade (-900).
Health care and social assistance continued its rapid, consistent pace of hiring, adding 18,100 jobs, or 6.2%, in the past 12 months. Within this industry, social assistance added the most jobs, gaining 9,200 jobs, or 12.2%, since December 2023. The three health care industries each added between 3,300 and 4,400 jobs during that time.
December’s growth in government also capped off a year of strong performance. Its 7,000-job gain (+2.3%) was the second fastest growth over the year.
Leisure and hospitality cut 3,200 jobs in the past two months. It employed 204,000 in December, which was 3,000 below its average during January 2023 through October 2024.
Cutbacks of 1,500 jobs within semiconductor and electronic component manufacturing contributed most of the December employment reductions in manufacturing. Over the year, manufacturing dropped 2,500 jobs (-1.3%). Several durable goods manufacturing industries have shed jobs in the past 12 months: wood product manufacturing (-500 jobs, or -2.2%); machinery manufacturing (-300 jobs, or -2.2%); and transportation equipment manufacturing (-600 jobs, or -5.3%).
Oregon’s unemployment rate was 4.1% in December and 4.0%, as revised, in November. The rate has consistently remained between 4.0% and 4.2% since October 2023. The U.S. unemployment rate was 4.1% in December and 4.2% in November.
Source: Oregon Employment Department
