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| November 2009 statewide unemployment rate | ||
| 12/14/2009 | ||
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CONTACT: David Cooke, Economist Oregon Employment Department (503) 947-1272 david.c.cooke@state.or.us Oregon’s Employment Situation: November 2009 Oregon’s seasonally adjusted unemployment rate was essentially unchanged at 11.1 percent in November from the revised October figure of 11.2 percent. This was its lowest since the rate was 10.7 percent in February, and was down from the high of 12.2 percent in May. Oregon’s unemployment rate was 7.8 percent in November 2008. The U.S. seasonally adjusted unemployment rate was 10.2 percent in October and 10.0 percent in November. The October rate was its highest level in 26 years. In November, Oregon’s seasonally adjusted nonfarm payroll employment dropped by 4,600 jobs, following a loss of 1,800 (as revised) in October. Industry Payroll Employment (Establishment Survey Data) In November, four major industries posted seasonally adjusted job losses of 900 or more: government (-1,700 jobs), construction (-1,400), financial activities (-900), and other services ( 900). None of the other major industries posted changes of more than 700. Government employment totals in November were most affected by the drop of 1,500 jobs in federal government. Normally federal government would decline by only 500 jobs in November, due to seasonal factors. The difference this time was due to temporary reductions at the U.S. Census as their intermittent workers completed their short-term assignments. Look for the U.S. Census to ramp up hiring again in the spring. In November, local government added 2,200 jobs, which was 700 below the typical seasonal job gain for the month. K through 12 schools and community colleges were back to full employment by November. The November headcount of 108,100 in all of local government education was 1,300 below its comparable year-ago figure. Charting the seasonally adjusted data in local government, excluding the volatile summer months, shows a slow and steady job decline over the past 12 months. This is in contrast to the consistent job gains in local government between late 2003 through late 2008, when employment grew at an average annual rate of slightly above 2 percent. Construction employment dropped sharply in November. The loss of 3,800 jobs was 1,400 more than the loss expected due to seasonal factors. Construction employment continued to decline as it has for more than two years. Seasonally adjusted construction employment reached 75,200 in November, its lowest such figure since December 1995, when 74,600 were employed in this goods producing sector. During the residential housing boom that ended in 2007, Oregon’s seasonally adjusted construction employment peaked at nearly 105,000. In November, construction job losses were seen in each of its major published industries: construction of buildings (-900 jobs), heavy and civil engineering construction (-1,000), and specialty trade contractors (-1,900). Financial activities dropped by 1,500 jobs in November, following a gain of 400 in October. Over the longer term, the industry has seen substantial and steady job losses since peaking in 2007 at more than 107,000 jobs. At 93,200 jobs, the industry is down 5,600 jobs over the past 12 months. During that time, losses have been most pronounced in credit intermediation and related activities (the industry comprised of firms including banks, savings and loans, and credit unions), which has cut 700 jobs, and in real estate and rental and leasing, which has shed 5,400 jobs. Other services cut 1,300 jobs in November, when a loss of only 400 is the normal seasonal movement for the month. This major industry employed a total of 57,300 jobs in November. It is comprised of repair and maintenance firms, personal and laundry services, and membership associations and organizations. Employment estimates in this industry rose fairly consistently in 2005 through mid-2008, but have dropped markedly since then. Employment has dropped by 3,200 since November 2008. Unemployment (Household Survey Data) In November, Oregon’s seasonally adjusted unemployment rate was 11.1 percent, which was essentially unchanged from October’s 11.2 percent and September’s 11.3 percent. One reason for which Oregon’s unemployment rate has dropped to near 11 percent recently from near 12 percent from March through August is that the state’s labor force participation rate has declined. In January through May, this participation rate was near a recent high of between 66.3 and 66.6 percent. Since then, this rate has dropped to 64.4 percent in both October and November. This means that there are fewer people classified as being in the labor force. The specific causes of why Oregonians have left the labor force and exact counts are not known. Likely reasons include more people going to school rather than looking for a job, spouses stopping to look for a job outside the house, a growing number of discouraged workers, and more people deciding to retire as their confidence in the value of their retirement savings has improved. In November, 211,424 Oregonians were unemployed. In November 2008, 152,901 Oregonians were unemployed. The Oregon Employment Department plans to release the November county and metropolitan area unemployment rates on Monday, December 21st and the statewide unemployment rate and employment survey data for December on Wednesday, January 20th. — 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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