Shrinking pool of workers slows state job growth
Oregon's job growth may be slowing, with a drop of 1,800 jobs in November, as the state's unemployment rate stayed steady at 4.2 percent last month.
State employment officials said Tuesday, Dec. 19, that November's drop in the number of new jobs came after a 7,900-job gain in October.
A couple of major industry sectors lost jobs last month, including a 2,000-job drop in professional and business services, and a 1,700 drop in manufacturing. Leisure and hospitality gained 1,200 jobs, as "other services" gained 1,300 jobs.
"Oregon's low unemployment rate and other positive labor force measures indicate there's a shrinking pool of available job seekers," said Nick Beleiciks, state employment economist. "Businesses are having difficulty finding applicants, and that has slowed Oregon's job growth in the second half of this year."
Since November 2016, Oregon has added 30,600 jobs. The state is gaining jobs at a slightly faster pace than the national growth rate of 1.4 percent during the past 12 months.