Oregon s Unemployment Rate Was Essentially Unchanged at 8.4 Percent in January, as Payroll Employment Grew by 4,200. Millions

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1 NEWS 875 Union Street NE Salem, Oregon PH: TTY-TDD FOR IMMEDIATE RELEASE: March 5, 2013 PRESS CONFERENCE PRESENTER: Nick Beleiciks, State Employment Economist CONTACT INFORMATION: David Cooke, Economist (503) Oregon s Unemployment Rate Was Essentially Unchanged at 8.4 Percent in January, as Payroll Employment Grew by 4,200 Oregon s seasonally adjusted unemployment rate for January was 8.4 percent, essentially unchanged from 8.3 percent in December. The January 2012 unemployment rate was 9.0 percent. Industry Payroll Employment (Establishment Survey Data) On a seasonally adjusted basis, preliminary estimates from the federal Bureau of Labor Statistics (BLS) indicate nonfarm payroll employment in Oregon rose by 4,200 jobs in January. The private sector added 5,000 jobs over the month, while the public sector declined by 800. Revised estimates for December show a gain of 1,200 jobs, when a gain of 2,000 was initially Percent 12.0 Oregon unemployment rate, seasonally adjusted January Labor Market Highlights Oregon s seasonally adjusted unemployment rate was 8.4 percent in January. The rate has been between 8.3 percent and 8.9 percent during the past 12 months. Oregon s seasonally adjusted nonfarm payroll employment grew by 4,200 in January. Payroll employment for 2012 was revised upward by 6,500 jobs or 0.4 percent. reported. Downward revisions were largest in trade, transportation, and utilities. At the time of this press release, the Oregon Millions 1.8 Oregon nonfarm payroll employment, seasonally adjusted Oregon Employment Department is an equal opportunity employer/program. Oregon Employment Department es un programa/empleador que respeta la igualdad de oportunidades.

2 Employment Department News Release Page 2 of 4 March 5, 2013 Employment Department is also releasing the annual revisions to the prior two years data. These revised numbers show that the jobs picture looked a little better in late 2011 and throughout 2012 than originally estimated. For the 2011 annual average, payroll employment was revised upward by 2,100 jobs or 0.1 percent. The 2012 annual average was revised upward by 6,500 or 0.4 percent, with the largest revisions occurring in professional and business services (revised upward by 7,500 jobs or 4.0%), manufacturing (+3,500 or 2.1%), and financial activities (revised downward by 3,100 jobs or 3.3%). Seasonally adjusted total nonfarm payroll employment rose by 17,200 jobs, or 1.1 percent, in the 12 months ending with January Oregon s job growth was nearly identical for the prior year, at 1.0 percent for the 12 months ending in January 2012, and 1.3 percent for the comparable period ending in January A closer look at the January 2013 seasonally adjusted payroll employment figures shows that monthly gains of over 1,000 jobs in three major industries were only partially offset by modest losses in two major industries. The newly revised payroll employment numbers show that, as was originally reported, Oregon s economy added jobs slowly and steadily for the past three years. 350,000 Oregon Seasonally Adjusted Employment Trade, transportation, and utilities Seasonal Expectations and Over the Month Employment Changes December 2012 to January ,000 Government INDUSTRY Normal Seasonal Movement Unadjusted Change Seasonally Adjusted Change 250,000 Private-sector Educational and health services Total nonfarm payroll employment 39,300 35,100 4,200 Total private 36,000 31,000 5,000 Mining and logging Construction 4,400 4, Manufacturing 2,900 1,500 1,400 Trade, transportation, and utilities 13,000 13,000 0 Information Financial activities 1, ,300 Professional and business services 5,200 4, Educational and health services 3,900 4, Leisure and hospitality 4,200 3,200 1,000 Other services Government 3,300 4, , , ,000 50,000 0 Professional and business services Manufacturing Leisure and hospitality Financial activities Construction Other services Information Mining and logging '08 '09 '10 '11 '12 '13

3 Employment Department News Release Page 3 of 4 March 5, 2013 The federal Bureau of Labor Statistics estimates that financial activities added the most jobs of the major industry sectors. In January, it grew by 800 jobs when a loss of 1,500 was the normal seasonal movement. Prior to January, financial activities had experienced severe job losses throughout most of the prior six years. Employment peaked at more than 107,000 jobs in 2007, then fell rapidly during the recession of 2008 and early Then for the next three years, financial activities employment in Oregon continued to decline, but at a slower rate, reaching below 90,000 jobs during parts of Manufacturing was expected to cut 2,900 jobs in January due to normal seasonal factors, but only shed 1,500. This better thanexpected reading put manufacturing back on track of its moderate recovery seen during the prior three years. Seasonally adjusted employment in manufacturing stood at 173,000 in January, which was well above its low point of 162,100 seen in late Looking at the component manufacturing industries, many have expanded since January 2012, including wood products (+900 jobs), primary metals (+300), fabricated metals (+600), machinery (+400), transportation equipment (+500), and nondurable goods (+300). Economists with the BLS estimate that leisure and hospitality cut 3,200 jobs in January, at a time of year when a loss of 4,200 jobs was expected due to seasonal factors. This industry is highly seasonal, with the low point for the year typically occurring in January. Peak employment, typically reached in July of each year, can be 15,000 to 20,000 jobs higher than the winter low point. After factoring out the normal seasonal swings, leisure and hospitality has been on an expansionary path for nearly three years. One of its component industries arts, entertainment, and recreation employed 19,500 in January, and is still more than 2,000 jobs below its peak January employment reached in However, the larger component industry accommodation and food services is nearly back to its highest January employment level ever. Its January 2013 employment was 143,400, while January 2008 accounted for 144,200 Oregon Jobs, as these hotels and restaurants have been adding workers since early The BLS estimates that government cut 4,100 jobs in January when a loss of 3,300 is the normal seasonal pattern for the month. This worse than expected showing continued the declining trend seen over the past several months. Over the past 12 months, however, government employment is only down 200 jobs, with federal government shedding 400, local government down 100, and state government adding 300, with the added jobs coming in the state education sector. Construction employment cut 4,900 jobs in January, when a loss of 4,400 is the normal seasonal pattern for the month. Despite gains in Oregon residential construction permits during much of 2012, construction employment dropped, declining 2,600 jobs since January Nearly all of the jobs losses over this 12 month period have come from specialty trade contractors, which is down 2,500 since January Firms in this category include electrical, plumbing, and drywall contractors. One of the component industries within specialty trade contractors is building

4 Employment Department News Release Page 4 of 4 March 5, 2013 equipment contractors, which has cut 1,600 during that time. The recent job losses in construction have put the industry close to its lowest level since Only January 2011, at 62,100 jobs, was lower than the January 2013 figure of 62,400. The BLS estimates of monthly job gains and losses are based on a survey of businesses. These preliminary estimates are subject to revision. Unemployment (Household Survey Data) The national unemployment rate was 7.9 percent in January and 7.8 percent in December, while Oregon s rate was 8.4 percent in January and 8.3 percent in December. During the past three and a half years, Oregon s unemployment rate has been gradually declining. The high was reached in May and June 2009 when Oregon s unemployment rate was 11.6 percent. In January, 182,994 Oregonians were unemployed. This was 7,707 fewer individuals than in January 2012 when 190,701 Oregonians were unemployed. Effective with the release of January 2013 data, unadjusted and seasonally adjusted Oregon labor force data from 2008 to 2012 were revised as part of the usual annual processing. These data include the number of Oregonians unemployed, the unemployment rate, and the employed. Next Press Releases The Oregon Employment Department plans to release the January county and metropolitan area unemployment rates on Friday, March 8th and the statewide unemployment rate and employment survey data for February on Tuesday, March 19th. For many years, monthly employment estimates for Oregon and its metropolitan areas were developed by Oregon Employment Department economists. In March 2011, responsibility for the monthly employment estimates for Oregon and its metropolitan areas shifted to the U.S. Bureau of Labor Statistics (BLS). The estimates developed by BLS are more heavily dependent on the sample of businesses and less reliant on knowledge of local economic events. They are also likely to demonstrate increased month to month variability. Comments or questions should be directed to Graham Slater, Administrator of the Oregon Employment Department's Workforce and Economic Research Division, at (503) For the complete version of the news release, including tables and graphs, visit: If you need this release in the Spanish language, please contact Loretta Gallegos at For help finding jobs and training resources, visit one of the state's WorkSource Oregon Centers or go to: Equal Opportunity program auxiliary aids and services available upon request to individuals with disabilities

5 Workforce and Economic Research 2012 Benchmark March 5, 2013 Oregon Current Labor Force and Industry Employment January December January Change From Change From December 2012 January 2012 Labor Force Status Civilian labor force 1,930,447 1,943,163 1,952,404-12,716-21,957 Unemployed 182, , ,701 22,921-7,707 Unemployment rate Unemployment rate, seasonally adjusted Employed 1,747,453 1,783,090 1,761,703-35,637-14,250 Nonfarm Payroll Employment Total nonfarm payroll employment 1,618,600 1,653,700 1,599,800-35,100 18,800 Total private 1,326,300 1,357,300 1,307,300-31,000 19,000 Mining and logging 6,600 6,800 6, Logging 5,200 5,300 5, Construction 62,400 67,300 65,000-4,900-2,600 Construction of buildings 16,000 17,100 15,800-1, Residential building construction 8,900 9,600 8, Nonresidential building construction 7,100 7,500 7, Heavy and civil engineering construction 7,000 7,700 7, Specialty trade contractors 39,400 42,500 41,900-3,100-2,500 Building foundation and exterior contractors 7,100 7,700 7, Building equipment contractors 19,600 20,600 21,200-1,000-1,600 Building finishing contractors 7,600 8,500 8, Other specialty trade contractors 5,100 5,700 4, Manufacturing 169, , ,600-1,500 2,600 Durable goods 121, , ,900-1,400 2,300 Wood product manufacturing 19,900 19,900 19, Sawmills and wood preservation 6,000 6,000 5, Plywood and engineered wood product mfg. 7,300 7,300 6, Other wood product manufacturing 6,600 6,600 6, Primary metal manufacturing 8,400 8,300 8, Fabricated metal product manufacturing 15,600 15,700 15, Machinery manufacturing 11,100 11,100 10, Computer and electronic product manufacturing 36,500 36,700 36, Semiconductor and electronic component mfg. 27,500 27,700 27, Electronic instrument manufacturing 5,200 5,200 5, Transportation equipment manufacturing 11,200 11,200 10, Nondurable goods 48,000 48,100 47, Food manufacturing 22,700 22,800 22, Fruit and vegetable preserving and specialty 8,000 8,200 8, Paper manufacturing 4,800 4,800 4, Trade, transportation, and utilities 315, , ,800-13,000 4,200 Wholesale trade 74,500 75,900 73,500-1,400 1,000 Merchant wholesalers, durable goods 30,800 31,400 30, Merchant wholesalers, nondurable goods 31,000 31,200 29, ,200 Electronic markets and agents and brokers 12,700 13,300 12, Retail trade 186, , ,900-9,500 2,400 Motor vehicle and parts dealers 22,400 22,400 21, ,200 Building material and garden supply stores 12,800 12,900 12, Food and beverage stores 38,000 38,800 38, Clothing and clothing accessories stores 16,600 18,700 16,400-2, Sporting goods, hobby, book and music stores 9,900 10,700 9, General merchandise stores 39,600 42,100 39,700-2, Miscellaneous store retailers 9,700 10,300 9, Nonstore retailers 6,200 8,400 6,100-2, CLFIE xlsx "CLFIE" Page 1 of 2 David Cooke (503)

6 January December January Change From Change From December 2012 January 2012 Transportation, warehousing, and utilities 54,200 56,300 53,400-2, Utilities 4,600 4,600 4, Transportation and warehousing 49,600 51,700 48,900-2, Truck transportation 17,200 17,800 17, Couriers and messengers 6,300 7,600 6,300-1,300 0 Warehousing and storage 6,800 6,800 6, Information 32,300 32,600 31, Publishing industries, except internet 13,900 13,800 13, Newspaper, book, and directory publishers 4,500 4,500 4, Software publishers 9,400 9,300 8, Telecommunications 6,700 6,700 6, Financial activities 90,300 89,500 89, Finance and insurance 56,400 55,800 55, ,100 Credit intermediation and related activities 27,700 27,800 27, Insurance carriers and related activities 23,400 23,000 23, Real estate and rental and leasing 33,900 33,700 34, Real estate 29,300 28,800 29, Professional and business services 192, , ,200-4,500 4,200 Professional and technical services 76,800 77,800 76,100-1, Legal services 11,500 11,900 11, Architectural and engineering services 12,800 13,200 12, Computer systems design and related services 12,000 12,300 11, Management of companies and enterprises 31,300 31,400 30, ,200 Administrative and waste services 84,300 87,700 82,000-3,400 2,300 Administrative and support services 79,200 82,300 76,800-3,100 2,400 Employment services 30,500 32,700 30,600-2, Business support services 14,700 15,900 14,700-1,200 0 Services to buildings and dwellings 17,900 18,000 17, Educational and health services 238, , ,800-4,200 4,300 Educational services 33,500 36,500 32,300-3,000 1,200 Health care and social assistance 204, , ,500-1,200 3,100 Ambulatory health care services 73,900 74,200 72, ,600 Hospitals 53,100 53,400 53, Nursing and residential care facilities 44,300 44,700 43, ,000 Social assistance 33,300 33,500 32, ,200 Leisure and hospitality 162, , ,100-3,200 3,800 Arts, entertainment, and recreation 19,500 19,500 20, Amusement, gambling, and recreation 14,600 14,300 15, Accommodation and food services 143, , ,900-3,200 4,500 Accommodation 20,500 20,900 19, ,200 Food services and drinking places 122, , ,600-2,800 3,300 Full-service restaurants 59,200 59,700 57, ,100 Limited-service eating places 53,100 54,500 51,100-1,400 2,000 Other services 57,100 57,100 56, Repair and maintenance 15,800 15,700 15, Personal and laundry services 13,000 13,200 12, Membership associations and organizations 28,300 28,200 28, Religious organizations 16,200 16,000 16, Government 292, , ,500-4, Federal government 26,800 27,300 27, State government 80,100 81,700 79,800-1, State education 32,100 33,800 31,400-1, Local government 185, , ,500-2, Indian tribal 8,300 8,300 8, Local education 98, ,200 98,900-1, Labor-management disputes The most recent month is preliminary, the prior month is revised. Prepared in cooperation with the U.S. Department of Labor, Bureau of Labor Statistics. Labor Force Status: Civilian labor force includes employed and unemployed individuals 16 years and older by place of residence. Employed includes nonfarm payroll employment, self-employed, unpaid family workers, domestics, agriculture and labor disputants. Unemployment rate is calculated by dividing unemployed by civilian labor force. Nonfarm Payroll Employment: Data are by place of work and cover full- and part-time employees who worked or received pay for the pay period that includes the 12th of the month. The data exclude the self-employed, volunteers, unpaid family workers, and domestics. Cautionary Note to Users: Starting in December 2009, revised estimation procedures mandated by the U.S. Bureau of Labor Statistics may result in unusually large or volatile monthto-month employment changes. These survey-based estimates are revised annually, based on more complete information from quarterly employer tax records. CLFIE xlsx "CLFIE" Page 2 of 2 David Cooke (503)