Oregon unemployment rate rises to 4.5% in December

By OPB staff (OPB)
Jan. 20, 2023 12:58 a.m.

Oregon’s unemployment rate continued to tick up slowly last month.

Since hitting near historic lows last summer, the jobless rate has gone up a full percentage point to 4.5% in December.

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That’s still a relatively low unemployment rate for Oregon. The state reached 4.5% in November 2021, and between 2017 and 2019, Oregon’s rate averaged 3.9%. But prior to late 2016, Oregon’s rate never dropped below 4.5% in any month dating back 40 years, according to the Oregon Employment Department.

However, Oregon’s unemployment rate in December measured higher than the national rate of 3.5%. National rates remained below 4% during the last three months of 2022.

Although Oregon’s unemployment is rising, the state continues to add a significant number of jobs to the market. The Oregon Employment Department counted 6,100 new non-farm payroll jobs in December, with more than one third of those in the manufacturing sector.

The construction industry continues to expand rapidly in Oregon, with about 1,300 jobs added in December. The industry added a total of 10,200 jobs in 2022, for an annual growth rate of 9.1%, with higher needs for building equipment contractors and building finishing contractors.

Hiring opportunities in the leisure and hospitality industry appear to be more tepid, as they remain well below the industry’s pre-pandemic peak. Still, it added 1,500 jobs in November and another 600 jobs in December, signaling a recent upward trajectory.

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