Overall unemployment rate moved down to 6.4% with the biggest shift in Restaurants & Hotels, which gained 6,000 roles, based on the most recently available information published in April 2021.
Total employment in the Portland-Vancouver-Hillsboro, OR-WA market rose by 11,296 jobs in February and the unemployment rate decreased compared to the prior month by 30 bps to 6.4%. The national unemployment rate decreased by 26 bps over the same time to 6.6%.
- Portland-Vancouver-Hillsboro, OR-WA unemployment rate is 15 bps below the national rate which is a positive sign.
- Unemployment in the market is 290 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in February versus prior month by 6.1% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.2% . Key sectors include:
- Transportation & Utilities: 220,100; -2,100
- Business Services: 184,000; +800
- Education & Healthcare: 179,400; +2,000
- Government: 143,500; +3,800
- Manufacturing: 120,200; +600
- Restaurants & Hotels: 77,300; +6,000
- Construction, Mining: 70,800; +900
- Financial Services: 70,300; +200
- Other Jobs: 37,900; +500
- IT & Development: 25,300; +300
Data is based on the most recent 12 months available, through February 2021 (Data published April 2021 and reports created on April 9, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.