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Employment Dept. News & Information
Oregon Employment Department

Oregon's Statewide Unemployment Rate for October 2005
11/14/2005
Contact:  Pat O’Connor, Economist
WorkSource Oregon Employment Department
(503) 378-2324
Patrick.S.Oconnor@state.or.us
 
Oregon’s Employment Situation: October 2005
 
Oregon’s seasonally adjusted unemployment rate was essentially unchanged at 6.0 percent in October compared with 6.2 percent in September. October’s rate was its lowest reading in more than four years and marked the first time since April 2001 that Oregon’s rate has been at 6.0 percent or below. In April 2001, the rate was also 5.9 percent.
 
The national unemployment rate was essentially unchanged at 5.0 percent in October, about the same as the prior five months readings, which were in the range of 4.9 percent to 5.1 percent
 
In October, nonfarm payroll employment grew slightly faster than is the typical trend for the time of year, adding 18,400 jobs when a gain of 17,200 is the typical seasonal trend.
 
 
Industry Payroll Employment (Establishment Survey Data)
In October, seasonally adjusted nonfarm payroll employment grew by 1,200. This gain followed average monthly increases of 5,100 over the prior four months. Even though October’s gain was below the average of the prior four months, it kept Oregon’s economy expanding. The change in October employment was elevated by 900 due to the end of a one-month strike in the aerospace industry.
 
Over the past 12 months, payroll employment added 49,400, or 3.0 percent. This indicates Oregon’s economy has been expanding at an annual rate of close to 3 percent for much of the past two years.
 
In October, most of the major industry sectors performed slightly better than their normal seasonal trend. Trade, transportation and utilities was an exception, as it added 3,000 more than its typical trend. Pulling down the numbers for the month was leisure and hospitality, which rebounded from a one-month spike in employment and declined by 6,000 in October.
 
 
  • Trade, transportation, and utilities showed the largest seasonally adjusted gain of the major industries, by adding 3,000 such jobs for the month. Retail started its seasonal hiring on a brisk note, with a gain of 4,400. Building material and garden supply stores added 500 jobs and is up 1,500 jobs, or 10.3 percent, in the past 12 months. This industry has been spurred by the very strong residential construction market in recent years. General merchandise stores posted a gain of 1,900 jobs for the month, while nonstore retailers added 600.
 
  • Leisure and hospitality shed 6,000 jobs in October. This was twice the typical loss for the month. One explanation may be that since September’s job decline was much shallower than typical, October’s seasonal decline was amplified as the sector corrected itself. Job losses were broad, with 3,300 lost in accommodation and food services and 2,700 lost in arts, entertainment, and recreation.
 
  • Construction employment dropped only 200 in October, when a loss of 500 is normal for the time of year. The stronger-than-normal showing followed a seasonally adjusted jump of 1,200 jobs in September and was a continuation of the rapid advances in the industry over the past two years.  Heavy and civil engineering construction added 400 in October, while the other two main categories of construction posted modest job declines: construction of buildings (‑400 jobs) and specialty trade contractors (-200 jobs).
 
Seasonally adjusted employment in construction reached 93,300 in October. This was up 9,300 jobs over a 12-month period, a gain of 11.1 percent.
 
  • Manufacturing performed in line with normal trends in October, cutting 100 jobs when a drop of 400 is expected for the time of year. For the prior month, manufacturing employment was revised upward and now shows a loss of only 200 jobs in September. In October, employment in transportation equipment manufacturing resumed back to normal following the one-month strike in that sector. Fabricated metal products added 300 jobs and is up 1,000 over the past 12 months and has been putting on a strong showing due to increased demand in the aerospace industry and in other heavy industrial sectors.
 
Unemployment (Household Survey Data)
Oregon’s seasonally adjusted unemployment rate was 6.0 percent in October, essentially unchanged from 6.2 percent in September. Oregon’s unemployment rate is down from 7.3 percent in October 2004. In October, 100,657 Oregonians were unemployed, compared with 124,056 in October 2004.
 
The Oregon Employment Department will release statewide unemployment rate and employment survey data for November 2005 at 11 a.m. on Monday, December 12, 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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