Clark County’s labor market experienced “very solid” job gains in the 12 months through August, the region’s labor economist said Tuesday, and the unemployment rate continued to drop — from 7.5 percent a year ago to a preliminary 6.2 percent.
“Things look good,” Scott Bailey, regional labor economist for the state Employment Security Department, said in a phone interview, noting the addition of 5,900 jobs since August 2014. As part of that growth in payrolls, the county added 200 jobs — adjusted for seasonal factors — from July to August.
The year-over-year increase in jobs translates to an annualized growth rate of 4.1 percent for Clark County. It’s a growth rate that surpasses the nation’s (2.1 percent) and tops those of Washington and Oregon (3 percent and 3.8 percent, respectively.) The Portland metro area’s rate of job growth barely edged out Clark County’s, clocking in at 4.3 percent.
As the region’s labor market has added jobs, the unemployment rate has gradually come down. The county recorded a preliminary unemployment rate of 6.2 percent in August. That compares with a 7.5 percent jobless rate in August 2014.