EUGENE, Ore. — Oregon’s unemployment rate continues its record low path — overall, it’s the state’s lowest unemployment rate in the series since 1976, sitting just above the federal rate of 3.7 for July and June 2019.
The unemployment rate in Oregon for July was 4.0%, according the figures released by Oregon Employment Department this week.
In July, Oregon’s total nonfarm payroll employment added 2,400 jobs, following June’s loss of 1,000.
The record low rate is the same as the revised rate for June 2019 and tied Oregon’s rates from May, June and July of 2018.
Monthly gains for July were strongest in professional and business services, health care and social assistance and construction. However the leisure and hospitality industry as well as government cut more than 1,000 jobs in July.
And despite the minimal growth of only 2,000 jobs between December of 2018 and March 2019, which is much weaker than originally estimated, longer-term trends show Oregon’s economy growing moderately for quite some time.
Since July 2018, total nonfarm payroll employment was up 29,600 jobs averaging Oregon’s over-the-year job growth rate at 1.6 percent during the past 16 months.
The most rapid job gains seen since July 2018 were in transportation, warehousing, and utilities and construction. While construction’s growth rate is still rapid, it has slowed from the 8.2% annual growth it averaged in 2015 through 2018.
Several industries contributed to Oregon’s expansion since last July, but six major industries were nearly flat or down over the past 12 months, led by retail down 2,800 jobs and information down 1,500 jobs.
