The Portland-Vancouver area's dropped one-tenth of a percentage point from June to 4%, according to the Oregon Employment Department's monthly report. The unemployment rate remained lower than the state's rate of 4.7 percent and the nation's rate of 4.2 percent.
Total nonfarm jobs in the Portland metro area dropped by 4,500 to 963,400. The service sector added 1,900 net jobs, gaining 2,400 in business services, which includes temporary staffing, and losing 1,100 in private education.
State economists warn that layoffs in the transportation equipment industry will weaken growth in future months. Earlier this week, Freightliner announced it will lay off 770 workers in Portland.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.