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| June 2006 statwide unemployment rate | ||
| 07/17/2006 | ||
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Oregon’s Employment Situation: June 2006 Contact David Cooke Economist (503) 947-1272 David.C.Cooke@state.or.us Oregon’s seasonally adjusted unemployment rate in June was essentially unchanged at 5.4 percent, from 5.6 percent in May. The state’s unemployment rate has been stable this year, with the rate staying between 5.3 percent and 5.6 percent for the first six months of the year. The U.S. unemployment rate was 4.6 percent in June, the same as in May, and at its lowest level since July 2001 when the rate was also 4.6 percent. Oregon’s seasonally adjusted nonfarm payroll employment dropped by 2,800 jobs in June. The May figure was revised sharply higher and now shows a gain of 8,300. Over the past 12 months, payroll employment is up 56,800 jobs or 3.4 percent. Industry Payroll Employment (Establishment Survey Data) Growth in nonfarm payroll employment has slowed in recent months. In April, seasonally adjusted employment dropped 500. This was followed by a large gain of 8,300 in May, and then a drop of 2,800 jobs in June. This up and down pattern puts the 1,709,000 jobs in June up 5,000 above the March figure. Therefore, over the past three months, jobs have expanded at an annual growth rate of just above one percent. This is a slowdown from the fairly constant 3.5-percent annual growth rate experienced over the prior two-year period. In June, most major industries posted little change. Three major industries – construction (‑700 jobs), manufacturing (-900), and government (-900) – suffered modest seasonally adjusted job declines. One major industry saw a substantial gain: professional and business services added 1,100 jobs on a seasonally adjusted basis.
Heavy and civil engineering construction added 800 jobs in June. Specialty trade contractors increased by 900 thanks to positive contributions from building equipment contractors (+800) and building finishing contractors (+500), which more than offset a loss in building foundation and exterior contractors (-500). While both residential building construction and nonresidential building construction were flat in June, these components are up 17 percent and 15 percent respectively from a year ago.
Nonetheless, jobs gained since June 2005 have been impressive; 6,700 jobs have been added since then, a growth rate of 3.3 percent. Over those 12 months, substantial numbers of jobs have been added in semiconductor and electronic component manufacturing (+1,000), transportation equipment (+1,800), and nondurable goods (+2,400). In June, a gain of 1,600 jobs in durable goods manufacturing was concentrated in transportation equipment manufacturing (+400). Fabricated metals, machinery manufacturing, and computer and electronics each added 200. In nondurable goods manufacturing, food manufacturing added 800 jobs.
Unemployment (Household Survey Data) Oregon’s seasonally adjusted unemployment rate was 5.4 percent in June and 5.6 percent in May. The rate has been essentially the same during the first half of the year. The June rate was down substantially from the year-ago figure of 6.3 percent. In June, 103,495 Oregonians were unemployed, compared with 118,353 in June 2005. The Oregon Employment Department will release statewide unemployment rate and employment survey data for July 2006 at 11 a.m. on Monday, August 14, 2006. — end —
For the complete version of the news release, including 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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