Overall unemployment rate moved down to 3.6% with the biggest shift in Restaurants & Hotels, which gained 1,800 roles, based on the most recently available information published in May 2023.
Total employment in the Portland-Vancouver-Hillsboro, OR-WA market rose by 4,762 jobs in March and the unemployment rate decreased compared to the prior month by 80 bps to 3.6%. The national unemployment rate decreased by 27 bps over the same time to 3.6%.
- Portland-Vancouver-Hillsboro, OR-WA unemployment rate is 2 bps below the national rate which is a positive sign.
- Unemployment in the market is 20 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in March versus prior month by 6.8% 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: 224,800; -1,000
- Business Services: 203,500; +100
- Education & Healthcare: 189,700; +1,300
- Government: 155,500; +900
- Manufacturing: 125,500; -400
- Restaurants & Hotels: 116,000; +1,800
- Construction, Mining: 84,700; +1,300
- Financial Services: 76,500; -500
- Other Jobs: 42,200; -400
- IT & Development: 28,200; +400
Data is based on the most recent 12 months available, through March 2023 (Data published May 2023 and reports created on May 9,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.