Overall unemployment rate moved down to 3.5% with the biggest shift in Transportation & Utilities, which lost 1,600 roles, based on the most recently available information published in June 2022.
Total employment in the Portland-Vancouver-Hillsboro, OR-WA market declined by 3,195 jobs in April and the unemployment rate decreased compared to the prior month by 40 bps to 3.5%. The national unemployment rate decreased by 42 bps over the same time to 3.3%.
- Portland-Vancouver-Hillsboro, OR-WA unemployment rate is 16 bps above the national rate which is a negative sign.
- Unemployment in the market is 220 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in April versus prior month by 7.5% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.3% . Key sectors include:
- Transportation & Utilities: 221,800; -1,600
- Business Services: 191,200; +1,500
- Education & Healthcare: 185,300; +300
- Government: 152,000; +600
- Manufacturing: 127,300; +1,500
- Restaurants & Hotels: 112,400; +1,400
- Construction, Mining: 79,800; +500
- Financial Services: 74,900; -400
- Other Jobs: 39,700; -500
- IT & Development: 27,200; +200
Data is based on the most recent 12 months available, through April 2022 (Data published June 2022 and reports created on June 1, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.