Construction employment hits record; 94% of lost jobs recovered

SALEM, Ore. (KTVZ) -- Oregon's nonfarm payroll employment grew by 8,700 jobs in June, following gains averaging 6,200 jobs in the prior seven months, the Oregon Employment Department reported Wednesday, along with a June jobless rate of 3.5% that's essentially unchanged and close to the U.S. figure.

Monthly gains in June were largest in construction (+2,800 jobs), other services (+1,600), health care and social assistance (+1,300), and leisure and hospitality (+1,300 jobs). Government (-600 jobs) was the only major industry that shed a substantial number of jobs.

As of June, Oregon has regained 94% of jobs lost at the onset of the pandemic. The U.S. has regained 98%. Oregon’s private sector is close to a full jobs recovery, having regained 98% of pandemic recession losses, the department said.

Construction employment rose rapidly over the past 12 months, reaching a record of 118,700 jobs in June, well above the pre-pandemic peak of 112,300 in February 2020. Since June 2021, construction added 8,700 jobs, or 7.9%, faster growth than the private-sector gain of 5.2%. All construction industries grew rapidly over the past 12 months, with several growing by double-digits: building finishing contractors (+13.2%), building equipment contractors (+11.5%), heavy and civil engineering construction (+10.8%), and specialty trade contractors (+10.7%).

Leisure and hospitality rapidly added jobs this year and last year. It added 28,500 jobs, or 16.4%, since June 2021. Despite these gains, leisure and hospitality still accounts for a large share of the jobs Oregon has not recovered since early 2020, with 14,600 jobs left to recover to reach the prior peak month of February 2020. The industry has regained 87% of jobs lost early in the pandemic.

Health care and social assistance added jobs rapidly throughout the first half of this year—gaining 7,900 jobs through June—following a stagnant period throughout 2021. Most of the gains were seen in ambulatory health care services, which added 4,000 jobs during the first six months of this year, and in social assistance, which added 2,400 jobs. 

Oregon’s unemployment rate of 3.6% in June was essentially unchanged from 3.5%, as revised, in May. Oregon’s unemployment rate has been below 4.0% for the past four months. The U.S. unemployment rate was 3.6% in March, April, May, and June.

The Oregon Employment Department plans to release the June county and metropolitan area unemployment rates on Tuesday, July 26, and the next statewide unemployment rate and employment survey data for July on Wednesday, August 17.

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