In November, Oregon’s seasonally adjusted nonfarm payroll employment gained 5,100 jobs, following a revised increase of 3,500 jobs in October. November’s gains were largest in health care and social assistance (+2,300 jobs); construction (+2,100); and professional and business services (+700). Declines were largest in leisure and hospitality (-700 jobs).
Private health care and social assistance has been adding jobs very rapidly since June 2022. It expanded by 41,700 jobs, or 15.6%, during that 29-month period. The fastest growing components during that time were social assistance (+17,800 jobs, or 27.0%) and nursing and residential care facilities (+9,400 jobs, or 19.3%). The other two component industries also added jobs, but grew less rapidly: hospitals (+6,800 jobs, or 11.9%) and ambulatory health care services (+10,200 jobs, or 10.7%).
Construction rebounded in November from a three-month dip, returning the sector’s total employment to 117,500, about where it had been from July 2022 through August 2024.
In the past 12 months, health care and social assistance (+17,500 jobs, or 6.0%) grew rapidly, while government (+6,900 jobs, or 2.2%) added the second most jobs. In that time, only two major industries declined by 1,000 jobs or more: retail trade (-1,700 jobs, or -0.8%) and leisure and hospitality (-1,400 jobs, or -0.7%). About half of the major industries were essentially flat over the year, with job changes of less than 1,200 in either direction.
Oregon’s unemployment rate was 4.1% in November and 4.0% in October and has consistently remained between 4.0% and 4.2% since October 2023. The U.S. unemployment rate was 4.2% in November and 4.1% in October.