Overall unemployment rate moved up to 3.6% with the biggest shift in Government, which lost 10,000 roles, based on the most recently available information published in August 2022.
Total employment in the Portland-Vancouver-Hillsboro, OR-WA market rose by 10,392 jobs in July and the unemployment rate increased compared to the prior month by 10 bps to 3.6%. The national unemployment rate decreased by 5 bps over the same time to 3.8%.
- Portland-Vancouver-Hillsboro, OR-WA unemployment rate is 18 bps below the national rate which is a positive sign.
- Unemployment in the market is 150 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in July versus prior month by 8.7% 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: 225,100; +1,500
- Business Services: 197,900; +2,400
- Education & Healthcare: 184,900; -500
- Government: 141,700; -10,000
- Manufacturing: 131,800; +1,700
- Restaurants & Hotels: 123,700; +3,800
- Construction, Mining: 85,500; +1,800
- Financial Services: 78,000; +1,200
- Other Jobs: 42,400; +1,200
- IT & Development: 28,100; +300
Data is based on the most recent 12 months available, through July 2022 (Data published August 2022 and reports created on September 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.