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Oregon jobless rate edges down to 3.7%, lowest level in more than two years

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State's rate continues to closely track nation's, but jobs recovery lags slightly

SALEM, Ore. (KTVZ) -- Oregon’s unemployment rate edged down to 3.7% in April, from 3.8% in March, reaching its lowest level in more than two years, the Oregon Employment Department reported Wednesday.

The jobless rate is now close to Oregon’s record low of 3.4%, which occurred in each of the four months of November 2019 through February 2020. The U.S. unemployment rate was 3.6% in both March and April 2022.

Throughout the past two years, Oregon and the nation have experienced similar trends as their economies and labor markets have recovered from the pandemic recession. Both saw their unemployment rates spike to unusual highs of more than 13% by April 2020, followed by a drop to below 7% six months later, the department said.

For the past 21 months, Oregon’s unemployment rate has been within a half percentage point of the U.S. unemployment rate.

Payroll employment trends have also been similar for Oregon and the U.S., with both losing roughly 14% of payroll jobs between February and April 2020, then recovering roughly a third of those jobs three months later, followed by a more gradual recovery leading up to April 2022.

However, Oregon has slightly lagged the U.S. jobs recovery overall, with the U.S. adding back 95% of jobs lost during the pandemic-induced recession, while Oregon has only recovered 88% of the jobs. 

In April, Oregon’s seasonally adjusted nonfarm payroll employment rose by 4,200 jobs, following a revised gain of 7,000 jobs in March.  Over-the-month gains were largest in health care and social assistance (+1,800 jobs), manufacturing (+1,300), and professional and business services (+1,300). The only major industry to cut at least 1,000 jobs was other services (-1,000 jobs).

Professional and business services has grown rapidly and consistently over the past two years. In April, employment reached 261,700, another record high for the industry. Recent revisions to the jobs tallies boosted the past six months’ employment upward by about 3,000 above original estimates.

Next Press Releases

The Oregon Employment Department plans to release the April county and metropolitan area unemployment rates on Tuesday, May 24, and the next statewide unemployment rate and employment survey data for May on Wednesday, June 15.

Notes: 

All numbers in the above narrative are seasonally adjusted.

The Oregon Employment Department and the U.S. Bureau of Labor Statistics (BLS) work cooperatively to develop and publish monthly Oregon payroll employment and labor force data. The estimates of monthly job gains and losses are based on a survey of businesses. The estimates of unemployment are based on a survey of households and other sources.

The Oregon Employment Department publishes payroll employment estimates that are revised quarterly by using employment counts from employer unemployment insurance tax records. All department publications use this Official Oregon Series data unless noted otherwise. This month’s release incorporates the October, November and December 2021 tax records data. In addition, data for July through September 2021 were revised by a total of up to 2,600 jobs per month. The department continues to make the original nonfarm payroll employment series available; these data are produced by the BLS.

The PDF version of the news release can be found at QualityInfo.org/press-release. To obtain the data in other formats such as in Excel, visit QualityInfo.org, then within the top banner, select Economic Data, then choose LAUS or CES. To request the press release as a Word document, contact the person shown at the top of this press release.

To file a claim for unemployment benefits or get more information about unemployment programs, visit Oregon.gov/employ.

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The Oregon Employment Department (OED) is an equal opportunity agency. Everyone has a right to use OED programs and services. OED provides free help. Some examples are: Sign language and spoken language interpreters, written materials in other languages, braille, large print, audio and other formats. If you need help, please call 971-673-6400. TTY users call 711. You can also ask for help at OED_Communications@employ.oregon.gov.

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Comments

16 Comments

  1. Thanks Kate! Thanks Joe! Way to work for the average person and work to bring jobs to our state and that is even after raising the minimum wage which most GOP’ers said would cause small business to not be able to hire and then unemployment would go thru the roof….but, reality strikes again.

  2. I can think of 181 newly unemployed medical professionals at St Charles who are calling BS on this story ! And to think- they were threatened with “No Jab-No Job” ! Yeh- way to go Kate- way to go Joe !

    1. Good those jab deniers have no biz in the medical field. I hope it follows them around the rest of their careers like a stain.

  3. BTW- can anyone explain this slant on terms ? … “However, Oregon has slightly lagged the U.S. jobs recovery overall, with the U.S. adding back 95% of jobs lost during the pandemic-induced recession, while Oregon has only recovered 88% of the jobs.” “slightly lagged” ??? I’d say a seven percent gap is pretty significant- Yeh… way to keep the state hovering just above the poverty line Kate- Now get out !

      1. Actually- it does make sense. The worker shortage is due to people “not looking for jobs”- they have dropped out of the workforce- so they are not counted in the unemployment numbers (which are only estimates anyway)- the unemployment numbers only take into account those actively seeking work… at question- is why don’t Americans- with hyperinflation eating through their savings and 401k’s… want to work for the Biden economy ?

        1. There’s not 20,000 or more at the border as is being reported, it’s all cgi or green screened by the evil right as he’d say. Anytime one of us disagrees with him it’s unheard of that we’re allowing our minds to be manipulated into 🐝 living what the right is doing to make biden look bad.

        2. That is accounted for in the participation rate…it is amazing, we actually track all of this stuff and then use that data to make informed decisions. We call them facts and we try and use them. S&P 500 is up since Biden took office (even factoring in inflation) so our 401k’s are up. Another fact!

          1. You must be getting yer financial advice from Uncle Billy- your is the string on the pinky finger ! Here are some indisputable facts- “Financial expert urges caution as $7T stock market slump sends 401ks tanking and some joke their retirement accounts are now ‘301ks’… “The S&P 500 has dropped 18% so far this year, losing $7 trillion in value”… “Prolonged selloff is spurring concerns about 401k and IRA retirement holdings”… “On Thursday, the S&P 500 was creeping toward confirming a bear market”… “those approaching retirement age should talk to their financial advisor” !!!

            Your link… from just last week…
            https://www.dailymail.co.uk/news/article-10810299/Americans-lament-state-401k-plans-stock-market-plunges.html

            1. Hard to debate you when you just change timeline! You stated it was a Biden issue so I took into account the market since Biden took office, you changed it to this year. If you want to cherry pick or fear monger….go for it. But since Biden took office the S&P 500 is up, no debate there!

    1. It’s bewilderment to barney that more of us aren’t willing to believe everything bad about brandons administration isn’t a complete and utter fabrication by jealous gop voters.😕. If everything is so mind-blowing awesome right now, than del taco being open whenever they 🥫 get workers scheduled, arby’s closing earlier because of lack of workers, walgreens closes at 4 some days. I’m not running through fences like the youth in the 🌽 husker state are.

    1. Forty year high inflation rates- record high fuel prices- stock markets plummeting- nation in recession with talk of “Depression” within two years… liars gotta lie !

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