Overall unemployment rate stayed flat at 3.7% with the biggest shift in Government, which gained 6,000 roles, based on the most recently available information published in December 2022.
Total employment in the Portland-Vancouver-Hillsboro, OR-WA market rose by 9,682 jobs in October and the unemployment rate stayed flat. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Portland-Vancouver-Hillsboro, OR-WA unemployment rate is 30 bps above the national rate which is a negative sign.
- Unemployment in the market is 10 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October 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 1.0% . Key sectors include:
- Transportation & Utilities: 225,700; +1,200
- Business Services: 198,000; +1,500
- Education & Healthcare: 192,000; +2,500
- Government: 157,600; +6,000
- Manufacturing: 133,000; +800
- Restaurants & Hotels: 120,100; -2,000
- Construction, Mining: 86,600; +900
- Financial Services: 78,100; +1,400
- Other Jobs: 41,500; no change
- IT & Development: 27,500; no change
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.