Employment Snapshot - Portland-Vancouver-Hillsboro, OR-WA January-2023

Weller Emmons

VP of Analytics and Finance at Mployer Advisor. He is passionate about leveraging data to provide industry leading insights for Mployer Advisor’s clients. Prior to joining Mployer Advisor, Emmons served as a healthcare provider strategy consultant for Knowledge Capital Group and as an internal strategy consultant at HCA Healthcare. Emmons earned his MBA and BE in Biomedical Engineering, both from Vanderbilt University.

Market Employment Summary

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Overall unemployment rate moved up to 4.5% with the biggest shift in Transportation & Utilities, which lost 6,000 roles, based on the most recently available information published in March 2023.

Total employment in the Portland-Vancouver-Hillsboro, OR-WA market declined by 25,777 jobs in January and the unemployment rate increased compared to the prior month by 40 bps to 4.5%. The national unemployment rate increased by 60 bps over the same time to 3.9%.

Portland-Vancouver-Hillsboro, OR-WA unemployment rate is 64 bps above the national rate which is a negative sign.
Unemployment in the market is 10 bps above the unemployment rate in the market last year at this time, which is a negative.
Average wages (per hour) grew in January versus prior month by 7.3% and are up compared to last year at this time in the market.

Month over Month Unemployment Change

Year over Year Unemployment Change

Portland-Vancouver-Hillsboro, OR-WA Unemployment January 2023

For key employment segments of the market, total jobs declined by -1.2%. Key sectors include:

Transportation & Utilities: 226,700; -6,000
Business Services: 200,000; -2,900
Education & Healthcare: 186,300; -1,000
Government: 152,700; -600
Manufacturing: 126,600; -700
Restaurants & Hotels: 114,600; -2,800
Construction, Mining: 82,200; -1,400
Financial Services: 77,600; +200
Other Jobs: 42,400; +400
IT & Development: 28,100; -200

Employment Change by Key Sector

Portland-Vancouver-Hillsboro, OR-WA Unemployment by Industry January 2023

Data is based on the most recent 12 months available, through January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.

Note: All reported data is not seasonally adjusted.

Portland-Vancouver-Hillsboro, OR-WA