Oregon unemployment rate holds at 4.2% for May

Oregon’s economy continues to add jobs as the statewide unemployment rate held steady at 4.2% in May.

The Oregon Employment Department reported a gain of 4,000 last month after a revised gain of 2,400 in April. It released its monthly report on Thursday, June 20.

The unemployment rate remained at 4.2% for the fourth consecutive month; the national average for May was 4%. Oregon’s monthly unemployment rate has been at 4.2% or less since October 2021.

Health care and social assistance gained 1,900 jobs in May, for a total of 16,200 (5.7%) in the past 12 months. All four components in this category have shown growth. But private-sector jobs overall have gained a net of just 3,500 — for .2% growth — as manufacturing dropped 3,700 jobs, retail trade 3,400, and construction 2,200.

Retail trade (800) and construction (400) led job losses for May.

Leisure and hospitality — entertainment, restaurants, bars and taverns, hotels and motels — added 1,00 jobs.

The public sector added 9,100 jobs over the past 12 months. Local, state, and federal government are all at least 2% above their job counts a year ago. Local education gained 3,400 jobs over the year to reach 142,600 in May. This is the first spring that local schools reached the employment level in spring 2019, prior to the pandemic.