Medford, OR – Oregon’s unemployment rate saw another increase in February, rising to 4.5%, up from 4.1% during the same period last year. This marks a notable rise in the state’s unemployment rate, bringing it 0.4% above the national average.
Despite the overall increase in unemployment, some sectors in the state saw job gains. The professional and business services, information, and government sectors were among the top performers, collectively adding more than 500 jobs. However, other industries faced setbacks. Construction, private educational services, and financial services all experienced job losses over the past month.
Gail Krumenauer, Oregon’s state employment economist, provided insight into the ongoing trends. “We’re still seeing this trend where job growth is highly concentrated in private healthcare and social assistance. That sector added 14,000 jobs over the past year,” Krumenauer said. “At the same time, we’re still seeing some notable job losses in other sectors. For example, manufacturing declined by 6,000 jobs over the past year.”
The latest increase in unemployment brings Oregon’s rate to its highest level since August 2021. Job gains continue to be concentrated in specific sectors, especially in healthcare, but the state faces challenges in other areas, such as manufacturing and construction.
While the state’s overall unemployment rate continues to climb, local data from Jackson County provides further context. Jackson County’s unemployment rate for January was recorded at 6.1%, significantly higher than the state average. Data for February’s unemployment rate in Jackson County is set to be released on April 1.
As Oregon grapples with these fluctuations, the state’s employment landscape remains mixed, with continued growth in some sectors and challenges in others. The state’s job market is expected to undergo further shifts as the year progresses.