Hiring in Oregon Declines for First Time in 3 Years
Thursday, October 15, 2015
The drop in jobs was found almost completely in the private sector. Three of the state’s biggest employers and most important industries, including retail, hospitality and construction, each cut more than 1,500 jobs in September.
They were far from the only industries to trim their workforce, however. A total of 14 industries cut jobs last month, including professional and business services, which cut more than 1,300 jobs.
Despite the gloomy numbers, state economist Nick Beleiciks said that there should not be fear of another economic meltdown—at least, not yet.
"September's losses were a sharp departure from months of rapid job growth in Oregon," Beleiciks said, "but it's too early to tell if the losses are just a blip in the recovery or a signal of slower growth this autumn."
Beleiciks pointed to long-term figures to prove the state’s economic vitality.
“Despite the job loss in September, Oregon has still added 49,500 jobs over the past year,” he said. “That's still a strong growth rate (2.9%) over the year, and faster than job expansion nationwide (2.1%), but slower than the 3.5 percent year-to-year job growth rate seen through August.”
Beleiciks also noted that unemployment largely held steady through the month of September. As GoLocal reported, unemployment stood at 6.1 percent at the end of August and rose slightly to 6.2 percent at the end of September.
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