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| Oregon's Employment Situation: June 2005 | ||
| 07/18/2005 | ||
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Unemployment rate virtually unchanged in June Contact: David Cooke, Economist WorkSource Oregon Employment Department (503) 947-1272 David.C.Cooke@state.or.us Oregon’s seasonally adjusted unemployment rate was 6.5 percent in June, essentially unchanged from the revised rate of 6.4 percent in May. For the first six months of the year, Oregon’s unemployment rate ranged from 6.1 percent to 6.5 percent. In June, Oregon’s seasonally adjusted payroll employment grew by 3,900, following a decline of 2,700 jobs (as revised) in May. The June employment growth was in line with typical job gains during the first half of the year, when an average of 4,300 jobs per month were added. Industry Payroll Employment (Establishment Survey Data) Payroll employment added 15,600 jobs in June, a time of year when the addition of 11,700 jobs is the norm. This translated to a seasonally adjusted gain of 3,900 jobs. In June, most major industry sectors performed in line with, or slightly above, their normal seasonal hiring patterns for the time of year. Four major industries — manufacturing, professional and business services, construction, and natural resources and mining — posted job gains substantially above their normal trend for the month. Leisure and hospitality was the only major industry to perform below typical seasonal expectations. • Manufacturing added 4,600 jobs in June. A gain of 3,300 is typical for the month. Machinery (+300 jobs), computer and electronic (+400), transportation equipment (+200), food (+2,000), and printing (+300) contributed to the growth. • Professional and business services added 2,800 jobs — far more than its typical June gain of 900. The gain brought the industry closer in line with its growth trend over the past two years. This industry has grown by 5,200 jobs over the past 12 months, in line with the growth of Oregon’s total payroll employment. • Construction added 3,200 jobs in June, reasserting its upward trend. Building equipment contractors gained 1,100 jobs. Also adding jobs were heavy and civil engineering (+400), building finishing contractors (+500), and other specialty trade contractors (+600). • Natural resources and mining added 1,100 jobs in June, when a 400-job gain is normal. Logging made up 800 of this, while the rest was likely in construction sand and gravel firms. • Leisure and hospitality, coming into its strong summer season, added 2,300 jobs in June. Gains were weaker than normal, but employment was still up 5,400 jobs since June 2004. Accommodation reached its highest June level ever, at 23,600 jobs. But this level was just barely above the June figures for the past six years, indicating little job growth in the industry so far this millennium. June marks the two-year anniversary of Oregon’s most recent recession trough, as measured by payroll employment. Since June 2003, seasonally adjusted nonfarm payroll employment grew by 86,900 and every major industry experienced job gains. Most major industries each added between 7,000 and 14,000 jobs during that time. Trade, transportation and utilities led the way with a gain of 16,500 over that two-year period. Construction added the second-most jobs, with a gain of 14,100. Between June 2003 and June 2005, the fastest growing industries in terms of percent growth, were construction (+19%) and natural resource and mining (+11%). Trailing the pack were information (+4%), government (+3%), and financial activities (+1%). The remaining six major industries each experienced a job growth rate very close to that of total nonfarm payroll employment (+5.6%). Unemployment (Household Survey Data) Oregon’s seasonally adjusted unemployment rate was 6.5 percent in June and 6.4 percent (as revised) in May. During the first six months of the year, Oregon’s unemployment rate consistently ranged between 6.1 percent and 6.5 percent. In June 2004, the state’s unemployment rate was 7.5 percent. The U.S. unemployment rate declined by one-tenth of a percentage point to reach 5.0 percent in June 2005. In June, 123,160 Oregonians were unemployed, compared with 142,599 in June 2004. The Oregon Employment Department will release statewide unemployment rate and employment survey data for July 2005 at 11 a.m. on Monday, August 15, 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. |
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