STATE - Oregon has added 11,600 jobs in October. The Oregon Employment Department reports that the gain in October was the largest monthly increase since 14,100 jobs were added in February 2017.
Monthly gains were in professional and business services, which added 5,300 jobs, and in leisure and hospitality, which added 3,800. Both industries rebounded from job losses in the prior two months. Three other industries added 1,000 jobs in October: manufacturing (+1,000) and transportation, warehousing and utilities (+1,000). Retail trade cut 900 jobs, posting the biggest monthly job decline.
The big job gain in October boosted Oregon's over-the-year growth rate. Since October 2016, Oregon has added 45,000 jobs, which equals an annual growth rate of 2.4 percent. Construction continues to lead the way with 9,400 jobs added, equaling 10.3 percent growth. The second fastest growing industry was transportation, warehousing and utilities. Over the past 12 months, five service-providing industries each expanded faster than the overall economy.
The unemployment rate was essentially unchanged at 4.3 percent in October from 4.2 percent in September, remaining near the national unemployment rate of 4.1 percent in October.