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Oregon jobless rate holds steady at 5.7 percent
By WILLIAM McCALL, AP Business Writer
Wednesday, January 18, 2006 | 1 comment(s)
PORTLAND, Ore. (AP) - Employment remained steady during the peak holiday season as the jobless rate for December matched the annual low for a second straight month at 5.7 percent - the lowest rate in nearly four years.
The seasonally adjusted unemployment rate for the last month of 2005 was the same as the revised figure for November as most major industries posted gains.
The statewide jobless rate has not been lower since March 2001, when it was 5.6 percent. The December rate was a significant improvement from last year, when the state ended 2004 at 7 percent unemployment.
The national unemployment rate also was steady at 4.9 percent in December, falling within the narrow but stable range of 4.9 percent to 5.1 percent for the past nine months.
Gov. Ted Kulongoski said the low jobless rate and continued growth in the Oregon economy show the state is “heading in the right direction.”
The Democratic governor, who is seeking re-election this year, noted that job growth in Oregon remained at twice the rate of the national average for all industries in 2005.
“More Oregonians have jobs today than at any other time in our state's history, and our economic growth ranks sixth in the nation,” Kulongoski said.
In December, seasonally adjusted nonfarm payroll employment rose by 7,500 jobs following a revised gain of 8,600 jobs in November, according to Oregon Employment Department figures released Tuesday.
The gains helped Oregon finish 2005 with a strong economic expansion, officials said.
Educational and health services posted the largest December gain with 2,700 more jobs, followed by manufacturing with 2,500 additional jobs.
Three major industries - professional and business services, leisure and hospitality, and construction - each posted seasonally adjusted job gains of about 1,000 jobs for the month.
State labor economists noted that educational and health services showed unusually strong gains in the past two months while manufacturing added 300 jobs at a time of year when a drop of 2,200 is normal.
Construction employment declined by only 1,500 jobs in December, at a time of year when a decline of 2,200 jobs is typical. The industry showed strong seasonally adjusted job gains throughout 2005 to grow by 11,700 jobs, or 14 percent.
Two major industries - natural resources and mining, and trade, transportation and utilities - lagged during December.
Natural resources, an industry composed mostly of logging companies in Oregon, posted an unusually large employment drop of 700 jobs during a month that normally sees a cut of only 200.
Trade, transportation, and utilities was held back by retail trade, which added only 800 jobs in December, when the average December gain over the past five years had been 2,200.
The poor showing in retail was due partly to the 500 jobs cut by motor vehicle and parts dealers.
The total number of jobless Oregonians in December was 101,639 - compared with 124,492 in December 2004.
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On the Net:
For more information, including tables and graphs, visit: http://www.QualityInfo.org
For help finding jobs and training resources, visit: http://www.WorkSourceOregon.org.
The seasonally adjusted unemployment rate for the last month of 2005 was the same as the revised figure for November as most major industries posted gains.
The statewide jobless rate has not been lower since March 2001, when it was 5.6 percent. The December rate was a significant improvement from last year, when the state ended 2004 at 7 percent unemployment.
The national unemployment rate also was steady at 4.9 percent in December, falling within the narrow but stable range of 4.9 percent to 5.1 percent for the past nine months.
Gov. Ted Kulongoski said the low jobless rate and continued growth in the Oregon economy show the state is “heading in the right direction.”
The Democratic governor, who is seeking re-election this year, noted that job growth in Oregon remained at twice the rate of the national average for all industries in 2005.
“More Oregonians have jobs today than at any other time in our state's history, and our economic growth ranks sixth in the nation,” Kulongoski said.
In December, seasonally adjusted nonfarm payroll employment rose by 7,500 jobs following a revised gain of 8,600 jobs in November, according to Oregon Employment Department figures released Tuesday.
The gains helped Oregon finish 2005 with a strong economic expansion, officials said.
Educational and health services posted the largest December gain with 2,700 more jobs, followed by manufacturing with 2,500 additional jobs.
Three major industries - professional and business services, leisure and hospitality, and construction - each posted seasonally adjusted job gains of about 1,000 jobs for the month.
State labor economists noted that educational and health services showed unusually strong gains in the past two months while manufacturing added 300 jobs at a time of year when a drop of 2,200 is normal.
Construction employment declined by only 1,500 jobs in December, at a time of year when a decline of 2,200 jobs is typical. The industry showed strong seasonally adjusted job gains throughout 2005 to grow by 11,700 jobs, or 14 percent.
Two major industries - natural resources and mining, and trade, transportation and utilities - lagged during December.
Natural resources, an industry composed mostly of logging companies in Oregon, posted an unusually large employment drop of 700 jobs during a month that normally sees a cut of only 200.
Trade, transportation, and utilities was held back by retail trade, which added only 800 jobs in December, when the average December gain over the past five years had been 2,200.
The poor showing in retail was due partly to the 500 jobs cut by motor vehicle and parts dealers.
The total number of jobless Oregonians in December was 101,639 - compared with 124,492 in December 2004.
---
On the Net:
For more information, including tables and graphs, visit: http://www.QualityInfo.org
For help finding jobs and training resources, visit: http://www.WorkSourceOregon.org.
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