Once again, Oregon employers have added several thousand jobs to the payroll and the state’s unemployment rate has fallen by a hair’s breadth, continuing a trend of steady improvement over the past few years. month.
According to the latest figures from the Oregon Department of Employment, the state’s unemployment rate fell to 3.6% in May, matching the national average for April and May.
The latest news release from state employment economists focuses on growth over the past 12 months, highlighted by an increase of more than 80,000 nonfarm payrolls since May 2021. The Growth Sector the fastest is leisure and hospitality, which rebounded in the past year with more than 29,000 jobs.
While Oregon’s unemployment rate now matches the national average, the pace of the job recovery is slightly slower than the country as a whole, according to the state’s analysis.
“Oregon has recovered 90% of the jobs it lost in the spring of 2020, compared to 96% for the United States. The labor market is still very dynamic in Oregon,” said senior economic analyst Anna Johnson in a taped statement.
Analysis earlier this month by Josh Lehner of the Oregon Bureau of Economic Analysis suggests employment gains are relatively inclusive, with many trends not worsening during the pandemic.
“The good news so far this cycle is that when it comes to employment trends and opportunities by age, gender, location, race and ethnicity, these disparities are no greater today than they are today. they weren’t before the pandemic,” Lehner wrote in a June 2 post.
But as Lehner notes, the fact that pre-pandemic disparities did not worsen does not mean that they are decreasing.
“We have longstanding disparities that remain,” Lehner noted.