Clark County posted what regional economist Scott Bailey described as “another solid month” for employment in July, although numbers released Wednesday show that the county never did reach the 150,000 job mark that seemed possible a month ago.
The Employment Security Department’s jobs report for July notes thatt June’s preliminary estimate of 150,200 jobs was revised downward to 149,900, using numbers not adjusted for seasonal variations. July’s preliminary estimate for non-seasonally adjusted employment fell by 200 to 149,700 jobs, Bailey said in his monthly report. He now predicts that “it may be September or October before the 150,000 mark is breached.”
That enticingly close milestone aside, the Employment Security report noted that seasonally adjusted nonfarm employment rose by 800 jobs. Hiring in July was spread across the board, with no industry gaining more than 100 jobs over the course of the month, the report said.
The job growth rate over the past 12 months is 3.1 percent, representing 4,600 new jobs. That’s a decline from the 3.8 percent one-year growth rate reported in June, a drop that Bailey attributed to the “monster month” of July 2014, which drove up the base for a one-year comparison.
“Assuming that job growth remains steady over the next few months, we can anticipate that the over-the-year growth rate will climb back up,” he wrote.
By comparison, U.S. job growth is 2.1 percent; job growth over 12 months is 3 percent in Washington, 3.3 percent in Oregon and 3.7 percent in the Portland metro region.
Construction in Clark County rose by 300 jobs over the month. Manufacturing added 400 workers, and trade, transportation & utilities added 300 jobs. Education employment dropped across the board due to summer down time in education systems.
For the year, the top three industries for job creation in the county are: trade, transportation and utilities (adding 800 jobs); professional & business services (also with 800 new jobs); and education and health services (up 600 jobs).
The county’s unemployment rate was 6.8 percent in July, little changed from June’s 6.5 percent and last July’s 7.2 percent. The labor force was up an estimated 0.8 percent, putting it well below population growth.
Initial unemployment claims rose for the third straight month but remained at a very low level, Bailey said. Continued claims, also at a low level, dropped slightly.
Clark County’s labor market report for August, including payroll and unemployment figures, will be released Sept. 22.
