Job losses were the largest in semiconductor and electronic component manufacturing.
Employment in Oregon fell slightly in December, due mostly to losses in semiconductor and electronic component manufacturing.
The unemployment rate rose from 4% to 4.1%, which is still in line with national and recent state averages. The U.S. unemployment rate was 4.1% in December and 4.2% in November.
Unemployment spiked at just under 14% at the start of the COVID-19 pandemic in 2020 but has hovered around 4% since 2022.
The losses were highest in leisure and hospitality (1,900 jobs), manufacturing (1,800), financial activities (1,000) and retail trade (900).
On Thursday, the Oregon Employment Department released seasonally adjusted nonfarm employment for December.
The prior total was a revised increase of 3,700 jobs in November. December’s gains were largest in health care and social assistance (1,900 jobs) and government (700 jobs).
Hiring over the past 12 months was fastest in health care and social assistance, which saw an increase of 18,100 jobs or 6.2%. Since December 2023, the social assistance sector has experienced an increase of 12.2% or 9,200 jobs. In that time, the three health care industries gained between 3,300 and 4,000 workers.
Growth in the government sector was strong with a 2.3% or 7,000-job increase.
The leisure and hospitality sector employed 204,000 in December after cutting 3,200 in the past two months.
The semiconductor and electronic component manufacturing shed 1,500 jobs, which accounted for most of the December manufacturing employment reductions. For all of 2024, manufacturing lost 1.3% of its workforce or 2,500 jobs. The wood products manufacturing sector lost 500 jobs or 2.2%. Machinery manufacturing cut 300 jobs or 2.2% and transportation equipment manufacturing eliminated 600 jobs or 5.3% of its workforce.
Next week, the employment department will release county and metropolitan unemployment data for December.
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