Overall unemployment rate moved down to 3.7% with the biggest shift in Construction, Mining, which lost 2,000 roles, based on the most recently available information published in November 2022.
Total employment in the Portland-Vancouver-Hillsboro, OR-WA market declined by 9,359 jobs in September and the unemployment rate decreased compared to the prior month by 30 bps to 3.7%. The national unemployment rate decreased by 47 bps over the same time to 3.3%.
- Portland-Vancouver-Hillsboro, OR-WA unemployment rate is 38 bps above the national rate which is a negative sign.
- Unemployment in the market is 60 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in September versus prior month by 8.5% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.4%. Key sectors include:
- Transportation & Utilities: 224,400; -1,300
- Business Services: 196,600; -1,100
- Education & Healthcare: 186,600; +1,400
- Government: 150,900; +500
- Manufacturing: 132,600; -100
- Restaurants & Hotels: 123,200; -1,300
- Construction, Mining: 85,100; -2,000
- Financial Services: 76,800; -300
- Other Jobs: 40,800; -1,300
- IT & Development: 27,400; -100
Data is based on the most recent 12 months available, through September 2022 (Data published November 2022 and reports created on November 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.