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| February 2005 statewide unemployment rate | ||
| 03/14/2005 | ||
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CONTACT: David Cooke, Economist, WorkSource Oregon Employment Department (503) 947-1272 Oregon’s Employment Situation: February 2005 Despite the gain in payroll employment, Oregon’s seasonally adjusted unemployment rate was essentially unchanged, from a revised 6.3 percent in January to 6.6 percent in February. Oregon’s seasonally adjusted civilian labor force rose significantly and reached an all-time high of 1,866,849. The two components of the labor force each rose in February as the seasonally adjusted number of unemployed rose by nearly 5,000, while employment expanded by close to 10,000. Industry Payroll Employment (Establishment Survey Data) • Educational and health services added 5,000 jobs in February, bouncing back from a weak employment showing in January. Educational services added 3,000 in February. Health care and social assistance added 2,000 and is now 7,400 jobs above its year-ago level. This industry employs 171,700, which is more than one in every 10 nonfarm jobs. • Manufacturing added 1,700 jobs in February, when a loss of 400 is typical for the month. Transportation equipment manufacturing added 700 jobs and is up 2,000 over the year. The industry, which has been growing rapidly since early 2004, hit 18,000 jobs for the first time in more than four years. Semiconductor and electronic component manufacturing added 300 jobs, but is still at about the same level as in July. • Professional and business services added 2,600 jobs in February, when a gain of 700 is the norm. Much of the growth for the month was seen in professional and technical services (+1,200 jobs), services to buildings and dwellings (+900), and business support services (+500). The broad industry category of professional and business services grew by 7,700 jobs or 4.6 percent in the past 12 months. • Leisure and hospitality added 1,500 jobs in February at a time of year when a flat employment trend is expected. Arts, entertainment, and recreation added 900 jobs and is up 2,000 over the past 12 months. Accommodation added 300 jobs, but is now essentially unchanged from its year-ago figure. Food services and drinking places added only 300 jobs in February, but rose by 6,200 jobs or 5.8 percent over the past 12 months. • Trade, transportation, and utilities dropped 1,400 jobs, less than the typical drop of 2,400 for the month. Wholesale trade added 700 jobs, indicating strong demand from its customers who are primarily other businesses. • Construction added 1,100 jobs in February, when a flat trend is normal. Continued dry and mild weather throughout much of the state during January and February contributed to record levels of activity. Construction employment is up 7,400 jobs since January 2004. Seasonally adjusted construction employment rose to 85,800. This is the highest level ever for Oregon and nearly 2,000 jobs above the peak level reached in early 2001. Unemployment (Household Survey Data) Oregon’s seasonally adjusted unemployment rate was essentially unchanged from a revised 6.3 percent in January to 6.6 percent in February. In February 2004, Oregon’s seasonally adjusted unemployment rate was 7.7 percent. On March 10th, the U.S. Department of Labor released January unemployment rates for all states. Oregon’s January seasonally adjusted unemployment rate was the fifth highest of all states in the nation. The number of unemployed Oregonians decreased over the past year. In February 2005, 138,555 Oregonians were unemployed, compared with 156,011 in February 2004. The national unemployment rate rose from 5.2 percent in January to 5.4 percent in February. The Oregon Employment Department will release statewide unemployment rate and employment survey data for March 2005 at 11 a.m. on Monday, April 11, 2005. — end —
For help finding jobs and training resources, visit one of the state´s WorkSource Oregon Centers or go to: www.WorkSourceOregon.org. Equal Opportunity program - auxiliary aids and services available upon request to individuals with disabilities. |
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