C.O. job growth slows; jobless rates still fall
After a strong winter, employment growth slowed across Central Oregon in March — and yet, jobless rates continued to fall, the state Employment Department reported Tuesday.
“Despite slower job growth the unemployment rate dropped significantly in all three Central Oregon counties,” said Regional Economist Damon Runberg. In fact, he said,.”Deschutes County’s seasonally adjusted unemployment rate of 6.0 percent is the lowest since December 2007.”
Here’s the breakdown he issued:
Crook County: The seasonally adjusted unemployment rate dropped to 8.9 percent in March, down from 9.5 percent in February. Unemployment levels remain down significantly since March 2014 when the rate was 10.9 percent.
Crook County added 20 jobs in March, nearly in line with the seasonal gain of 30 jobs typical for this time of year.
Total nonfarm employment is essentially unchanged from this time last year (+10 jobs). Wood product manufacturing accounted for the only significant job losses from last March, down 120 jobs. Growth continued in professional and business services; educational and health services; and retail trade, each up about 30 jobs over the past year.
Deschutes County (Bend-Redmond MSA): The seasonally adjusted unemployment rate dropped below the long-term average during the 2000s. The March rate was 6.0 percent, down from the February rate of 6.5 percent. Unemployment is down 2.5 percentage points over the past year.
Seasonal hiring was slower than typically expected in March. Deschutes County added 270 jobs, when the addition of 450 is the norm. This weak hiring isn’t worrisome, as there were fewer seasonal declines this winter due to the unusually warm weather. Expect to see these seasonal trends stabilize as we approach summer.
Deschutes County’s job growth over the past year continues to lead Oregon’s metropolitan areas, expanding by 6.8 percent (+4,450 jobs).
Manufacturing is experiencing a revival after years of slow growth; the industry added 240 jobs from last March. The mining, logging, and construction sector continues to outpace all other industries, expanding by 16.4 percent in the last year.
The recovery of housing prices, low housing supply, and strong population growth are helping to stimulate the construction industry.
Jefferson County: The seasonally adjusted unemployment rate dropped to 7.4 percent in March, down from 8.1 percent in February. The rate was 9.8 percent this time last year.
Jefferson County only added 10 jobs in March, when the county typically expects to add around 40.
Although employment levels in Jefferson County remain up from last year, the pace of job growth is slowing. The county added 210 jobs from last March (+3.7%). Manufacturing continues to support private-sector job growth.
Next Press Releases
The Oregon Employment Department plans to release the April county and metropolitan area unemployment rates on Tuesday, May 27 th and the statewide unemployment rate and employment survey data on Tuesday, May 19 th .
