Oregon’s unemployment rate rose to 4.8% in May, up slightly from 4.7% in April and significantly from 4.1% in May 2024, according to the latest data from the Oregon Employment Department.
The rate has steadily climbed since its recent low of 3.6% in spring 2023, while the national unemployment rate held steady at 4.2% for both April and May.
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- 1 Mixed signals in Oregon’s job market
- 2 Leisure and hospitality lead growth
- 3 Construction and manufacturing continue to decline
Mixed signals in Oregon’s job market
In May, Oregon’s seasonally adjusted non-farm payroll saw a net decline of 1,400 jobs, reversing a modest gain of 1,000 jobs in April. Some sectors continued to grow, but key industries suffered notable losses.
Sectors with job gains in May:
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Leisure and hospitality: +1,300 jobs
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Transportation, warehousing, and utilities: +1,200 jobs
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Health care and social assistance: +900 jobs
Sectors with job losses in May:
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Construction: –1,700 jobs
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Manufacturing: –1,200 jobs
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Professional and business services: –900 jobs
Leisure and hospitality lead growth
The leisure and hospitality sector has rebounded strongly in 2024, gaining 1,300 jobs in May and 6,000 jobs year-to-date, after two years of slower growth. Over the past 12 months:
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Amusement, gambling, and recreation: +1,700 jobs (+8.5%)
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Limited-service restaurants and other eating places: +3,600 jobs (+4.8%)
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Accommodation: +1,100 jobs (+4.5%)
Construction and manufacturing continue to decline
The construction sector remains a key area of concern. It lost 1,700 jobs in May, bringing total employment down to 112,300 jobs. Since peaking at 119,000 jobs in June 2023, the industry has lost 6,700 jobs, or 5.6%.
Similarly, manufacturing shed 1,200 jobs last month and has lost 6,100 jobs (–3.3%) since May 2024. Some of the hardest-hit areas within manufacturing include:
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Semiconductors and other electronic components: –2,900 jobs (–8.7%)
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Transportation equipment manufacturing: –500 jobs (–4.5%)
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Fruit and vegetable processing and specialty food manufacturing: –400 jobs (–4.4%)
As Oregon’s economy faces a slowdown in key sectors, state officials are watching closely to assess longer-term impacts and policy responses, especially amid continued uncertainty in global trade and economic trends.
