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Employment Dept. News & Information
Oregon Employment Department

January 2005 Statewide Unemployment Rate
02/28/2005
CONTACT:  Patrick O’Connor, economist
Oregon Employment Department
(503) 947-1263

Oregon’s Employment Situation: January 2005
 
Oregon’s seasonally adjusted payroll employment rose by 4,400 in January, reaching its highest level ever. This measure of employment stood at 1,620,600 and for the first time surpassed the previous peak of 1,619,200 set in November 2000.
 
Construction and finance each posted record seasonally adjusted employment levels in January. Most other major industries also reached near-record levels. Manufacturing was a notable exception. Although it has added 8,200 jobs since its low point a year and a half ago, it is still 22,400 below its level four years ago at the outset of the recession.
 
In January, trade, transportation, and utilities, and government performed better than expected. Educational and health services dropped below expectations, while other major industry groups performed close to their normal trends for the time of year.
 
Oregon’s seasonally adjusted unemployment rate dropped to 6.4 percent in January, from the revised December figure of 7.0 percent, reaching its lowest level since June 2001 when the rate was 6.2 percent.
 

Industry Payroll Employment (Establishment Survey Data)
 
  • Trade, transportation, and utilities performed better than its normal seasonal pattern, cutting 12,200 jobs at a time of year when a loss of 15,400 would be expected. Holiday hiring during the last three months of 2004 appears to have been weaker than in recent years. The retail industries that account for most of this fourth-quarter employment growth added 9,400 jobs from October through December, which was slightly below comparable gains in 2002 and 2003. These weaker job additions at the end of 2004 were partially responsible for smaller-than-typical January job cuts.
 
  • Manufacturing posted employment trends slightly better than normal for the time of year with 1,900 jobs cut in January, when a loss of 2,300 would be typical. Transportation equipment manufacturing added 200 jobs and is up 1,700 over the year. Wood products manufacturing was down by only 200 in January.
 
  • Construction also performed better than the typical trend for the month, losing only 2,600 jobs when a loss of 3,300 would be the norm. Residential home starts and construction are booming nationally and no doubt also in Oregon as home mortgage interest rates remained below 6 percent. Weather in January also played a part in construction’s strong employment showing, as well as in manufacturing and natural resources. According to the National Weather Service, the Portland area experienced below-normal rainfall and above-average temperatures in January. This weather pattern was conducive to many forms of construction and production and was in stark contrast to the severe snow and ice storm that negatively affected employment levels throughout much of Oregon in January 2004.
 
  • Educational and health services showed an unusual employment dip in January. This industry has been on a steady growth trend for more than 10 years. Employment growth slowed in 2003, but reaccelerated in 2004. Despite the loss of 5,200 jobs in January, the industry has added 6,800 jobs, or 3.6 percent, over the past 12 months.
 
  • Government cut 1,600 jobs in January, fewer than the typical cut of 4,300 for the month. All three components of government shed jobs: federal (-300), state (-500), and local (-800).
 

Unemployment (Household Survey Data)
Oregon’s seasonally adjusted unemployment rate dropped from 7.0 percent in December to 6.4 percent in January. In January 2004, Oregon’s seasonally adjusted unemployment rate was 7.9 percent. Effective with the release of January 2005 data, unemployment numbers have been revised back to 1978.
 
The number of unemployed Oregonians decreased over the past year; in January 2005, 131,805 Oregonians were unemployed, compared with 158,841 in January 2004.
 
The national unemployment rate also declined, edging down from 5.4 percent in December to 5.2 percent in January.
 
The Oregon Employment Department will release statewide unemployment rate and employment survey data for February 2005 at 11 a.m. on Monday, March 14, 2005.
 
— end —
 
For the complete version of the news release, including this text, tables and graphs, visit www.QualityInfo.org/pressrelease.
 
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.
 
Page updated: March 05, 2007

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