Overall unemployment rate moved up to 4.0% with the biggest shift in Construction, Mining, which gained 2,500 roles, based on the most recently available information published in September 2022.
Total employment in the Portland-Vancouver-Hillsboro, OR-WA market rose by 2,010 jobs in August and the unemployment rate increased compared to the prior month by 40 bps to 4.0%. The national unemployment rate stayed flat over the same time period at 3.8%.
- Portland-Vancouver-Hillsboro, OR-WA unemployment rate is 21 bps above the national rate which is a negative sign.
- Unemployment in the market is 100 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in August versus prior month by 8.2% and are down 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: 225,900; no change
- Business Services: 197,500; +900
- Education & Healthcare: 184,500; +300
- Government: 147,200; -1,100
- Manufacturing: 133,900; +2,000
- Restaurants & Hotels: 124,800; +900
- Construction, Mining: 87,100; +2,500
- Financial Services: 77,200; -800
- Other Jobs: 42,000; -600
- IT & Development: 27,500; -500
Data is based on the most recent 12 months available, through August 2022 (Data published September 2022 and reports created on September 28, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.