WEATHER IN LINCOLN COUNTY

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Oregon continues to crawl out of the longest recession in 80 years

Newport from the air Ken Gagne photo

Newport from the air
Ken Gagne photo

The unemployment rate for Lincoln County was higher than the statewide rate (6.3%) and the national rate (5.7%). Lincoln County’s seasonally adjusted unemployment rate was 7.3 percent in January, essentially unchanged from the previous month (7.6%) and the year before (7.3%).

Elsewhere across Oregon…

Regular payroll employment rose by 7,600 – the fourth time in five months that more than 6,000 jobs were added. In addition to Oregon’s continued economic growth, January weather was unusually mild, which allowed many outdoor industries –particularly construction – to keep more workers on the job than they might usually at this time of year.

Employment set another record level in January and rose 55,600 above a year ago, a 3.3 percent increase. Oregon’s private sector grew by 49,100 jobs or 3.5 percent. Meanwhile, government expanded by 6,500 jobs or 2.2 percent.

The fastest growing of the major private-sector industries each grew by at least 4 percent over the year: retail trade (+8,000 jobs or 4.1%); manufacturing (+7,000 jobs or 4.0%); transportation, warehousing, and utilities (2,600 jobs or 4.6%); and professional and business services (+13,100 jobs or 6.1%). Several component industries within professional and business services expanded at very rapid rates of near 6 percent or more, including computer systems design, management of companies, administrative services, and employment services.

Putting Oregon’s employment growth into perspective, the rate of growth has steadily accelerated over the past few years: jobs grew 1.4 percent in 2012, 2.4 percent in 2013, and 3.3 percent in the past 12 months. This most recent over the-year growth of 3.3 percent is the fastest pace since June 2006. Other than brief periods during 2004 through 2006, the last time Oregon jobs grew faster was the four-year period ending in July 1997 when Oregon averaged 4.0 percent growth.

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