Overall unemployment rate moved up to 4.0% with the biggest shift in Restaurants & Hotels, which lost 2,300 roles, based on the most recently available information published in January 2022.
Total employment in the Portland-Vancouver-Hillsboro, OR-WA market declined by 10,759 jobs in November and the unemployment rate increased compared to the prior month by 30 bps to 4.0%. The national unemployment rate decreased by 4 bps over the same time to 3.4%.
- Portland-Vancouver-Hillsboro, OR-WA unemployment rate is 64 bps above the national rate which is a negative sign.
- Unemployment in the market is 40 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in November versus prior month by 8.8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.1% . Key sectors include:
- Transportation & Utilities: 227,200; +1,500
- Business Services: 200,800; +1,900
- Education & Healthcare: 192,500; +400
- Government: 158,500; +1,300
- Manufacturing: 133,200; +200
- Restaurants & Hotels: 118,600; -2,300
- Construction, Mining: 85,800; -1,300
- Financial Services: 78,200; -600
- Other Jobs: 41,900; +500
- IT & Development: 27,900; +200
Data is based on the most recent 12 months available, through November 2022 (Data published January 2022 and reports created on January 3, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.