Oregon unemployment increases in July

Despite an increased number of job openings, the state’s jobless rate rose to 5.9%.

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Despite an increased number of job openings, the state’s jobless rate rose to 5.9% in July.

Unemployment was at 5.5% in June, and 7% in July 2014.

State employment officials said Tuesday that in July, five major industries added 1,000 or more jobs, with construction (up 2,300 jobs) and professional and business services (up 1,700) adding the most. Only two industries — government (down 3,200 jobs) and leisure and hospitality (down 1,900) — declined.

“Oregon’s job growth continued at a rapid pace in July,” said Nick Beleiciks, state employment economist. “We’re also seeing a large number of people entering the labor arket or who are leaving their jobs voluntarily. They account for about half the increase in unemployment. Oregon’s economy is adding jobs so fast right now that many of them will find work quickly.”

(SOURCE: Portland Tribune)

As the numbers indicate, the construction sector remains robust in the state.

The figures did not surprise industry insiders like Dave Nielsen, who leads the Home Builders Association of Metropolitan Portland. Although the construction sector was slower than most to recover, activity began to pick up in 2013.

“The industry has been in a growth mode the last two years,” he said. “Even though we’ve had a little bit of what feels like a boom, in comparison to the mid 2000s, this one is very small.”

(SOURCE: OregonLive.com)

Is the increasing unemployment rate a reason for concern?


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