January Economic Indicators. Latest Local Area Employment Data
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1 January 2015 Economic Indicators Unemployment Rates Seasonally Lane Raw Adjusted October % 6.8% November % 6.9% October % 7.0% November % 7.0% United States October % 5.8% November % 5.8% Nonfarm Payroll Employment November 2014 Annual Employment Change Total 149,100 1,400 Goods Producing 19, Mining and Log 1,000 0 Wood Prod. Mfg. 3, Other Mfg. 9, Construction 5, Service Producing 99,200 1,800 Retail 20,800 1,100 Health Care 18, Leisure and Hosp. 15, Additional Serv. 44, Government 30, Consumer Price Index (CPI) = 100 All Urban Consumers Latest Local Area Employment Data Lane County s seasonally adjusted unemployment rate increased to 6.9 percent in November compared with a revised 6.8 percent in October. The rate this November is down 0.2 percentage point from the 7.1 percent recorded in November The unadjusted rate was 6.7 percent. The number of unemployed rose by 387 from October, and was 237 higher than November Nonfarm Payroll Employment Total nonfarm payroll employment rose by 600 in November when a loss of 40 was expected on a seasonal basis (a seasonally adjusted increase of 640). Total nonfarm employment rose 1,400 from November of last year for a 0.9 percent increase. Manufacturing dropped by 100 in November due to a loss of 100 in wood product manufacturing. In the private nonmanufacturing sectors in November, there was a seasonal increase in retail trade (+900). There were seasonal decreases in construction (-100) and leisure and Seasonally Adjusted Unemployment Rates United States November Year change 1.3% Percent 8 6 Portland-Salem MSA Jan June Year Change 2.6% July-Dec available mid-feb Lane County 0 Nov-09 Nov-10 Nov-11 Nov-12 Nov-13 Nov-14
2 hospitality (-100). Elsewhere, there were gains in wholesale trade (+100) and private educational and health services (+300). There was a decrease of 1,000 in professional and business services. Government increased by 600 jobs in November from increases in noneducation state government (+100), state government education (+400), and local education (+200). These gains were countered by a loss of 100 in federal government. 4,000 2,000 0 (2,000) (4,000) (6,000) (8,000) (10,000) (12,000) (14,000) Lane County: Employment Change from Previous Year November 2008 to November 2014 Around the County (16,000) Nov-08 Nov-09 Nov-10 Nov-11 Nov-12 Nov-13 Nov-14 Hard Knocks Brewing opened in Cottage Grove. It employs 15 people. The Register-Guard, 12/3/2014 Construction of the State Hospital campus in Junction City is expected to be completed by the end the month. More than 180 positions have been filled and 150 more need to be filled by March. The Register-Guard, 12/10/2014 Cottage Grove Answering Service will close. Cottage Grove Sentinel, 12/16/2014 Beergarden, a sheltered food cart pod, will open in Eugene in the spring. The Register-Guard, 12/21/2014 Eugene Liquidators, a discount furniture store in Eugene, closed. The Register-Guard, 12/24/2014 Employment Payroll employment shot up by 9,900 in October. Most major industries added jobs on a seasonally adjusted basis, with three showing solid strength: professional and business services (+2,700 jobs), manufacturing (+2,200), and health care and social assistance (+2,000). The gain of 9,900 was the largest monthly increase in nearly 20 years. The last time s economy added at least this many jobs was in August 1995 when 10,400 were added. Payroll employment rose by 800 in September. This was a revision from the originally reported decline of 300 jobs. Lane County Labor Trends is published by the Workforce and Economic Research Division of the Employment Department and can be found on the Publications page at Material contained in this publication is in the public domain and may be reproduced without permission. Please credit Lane County Labor Trends, Employment Department. The Employment Department is an equal opportunity employer. Auxiliary aids and services are available upon request to individuals with disabilities. For address changes, contact Lmipubs@oregon.gov or (503) Employment Department Workforce Analysis
3 s unemployment rate was unchanged at 7.0 percent in October. Despite October s strong job growth, the unemployment rate didn t fall because more and more ians are entering the labor force and looking for work. The September unemployment rate was also 7.0 percent, revised from the originally reported 7.1 percent. s unemployment rate has remained in a tight range between 6.8 percent and 7.1 percent since December Another sign of an improving labor market 3 Jan-02 Jan-04 Jan-06 Jan-08 Jan-10 Jan-12 Jan-14 is declining long-term unemployment. The number of ians unemployed for more than 27 weeks declined steadily over the past four years. In October, approximately 33,000 ians were unemployed for 27 weeks or more. This is down from more than 100,000 during much of National Employment Both the unemployment rate (5.8%) and the number of unemployed persons (9.0 million) edged down in October. Since the beginning of the year, the unemployment rate and the number of unemployed persons declined by 0.8 percentage point and 1.2 million, respectively. Total nonfarm payroll employment increased by 214,000 in October, in line with the average monthly gain of 222,000 over the prior 12 months. In October, job growth occurred in food services and drinking places, retail trade, and health care. Preliminary 2014 Population Estimates Preliminary 2014 population estimates from Portland State University s Population Research Center show that gained 43,690 residents in 2014, an increase of 1.1 percent. This was an increase from the 0.9 percent growth rate in Seasonally Adjusted Unemployment Rates, 2002 to Present U.S. Population Estimates for Lane County and its Incorporated Cities Population Estimate Population Estimate Population Percent Change Change July 1, 2014 July 1, ,962,710 3,919,020 43, % Lane County 358, ,125 2, % Coburg 1,045 1, % Cottage Grove 9,840 9, % Creswell 5,075 5, % Dunes City 1,315 1, % Eugene 160, ,580 1, % Florence 8,565 8, % Junction City 5,620 5, % Lowell 1,060 1, % Oakridge 3,220 3, % Springfield 60,065 59, % Veneta 4,690 4, % Westfir % Unincorporated 97,280 96,200 1, % Source: Portland State University Population Research Center Employment Department Workforce Analysis 3
4 Deschutes County was the fastest growing county, adding 3,875 for a 2.4 percent increase. Washington County added the most with 9,475, or 1.7 percent. Lane County was the 15 th fastest growing out of s 36 counties with a gain of 2,680, or 0.8 percent. Lane County was the state s fourth most populous County with 358,805 after Multnomah (765,775), Washington (560,465), and Clackamas (391,525). Lane County s fastest growing city was Junction City, which added 70 (+1.3%). Lane County s largest city, Eugene, gained 1,195, (+0.7%) to reach 160,775 people. Lane County has Gained Back Almost Half of the Jobs Lost in the Recession Since the release of the statewide November employment estimates, which showed the state regaining its prerecession peak number of jobs, I have had a couple of inquiries about how local areas are doing compared with the state. In Lane County, almost half the jobs have been regained from the recession. After seven years, s payroll employment rose above its pre-recession peak in November, reaching a record 1,740,800 jobs. During the roughly two years of job loss that started in December 2007, the state lost 147,400 jobs, or 8.5 percent. Most of the growth since then has come from the state s metropolitan areas and especially the Portland area. Percent Job Losses Relative to Peak Employment Month 1% 0% -1% -2% -3% -4% -5% -6% -7% -8% -9% 147,400 jobs were lost. Percent of Job Losses in Since Peak in December 2007 Regained the jobs by November Number of Months After Peak Employment Percent of Job Losses in Lane County Since Peak in February 2008 In comparison, Lane County lost a higher percentage of jobs and was slower going into the recovery. Lane County s prerecession peak was in February 2008 and county employment finally bottomed out in September 2010 after losing 17,900 jobs, or 11.4 percent. As of November, the county has regained 5,400 jobs, which means it has regained 45 percent of the jobs lost. Percent Job Losses Relative to Peak Employment Month 1% 0% -1% -2% -3% -4% -5% -6% -7% -8% -9% -10% -11% -12% 17,900 jobs were lost Number of Months After Peak Employment Regained 8,000 jobs by November Employment Department Workforce Analysis
5 EUGENE MSA (Lane County) LABOR FORCE SUMMARY (by place of residence) -Change from- Nov. Oct. Nov. Oct. Nov Civilian Labor Force 176, , , ,304 Unemployment 11,770 11,383 11, Unemployment rate 6.7% 6.5% 6.6% Unemployment rate, seasonally adjusted 6.9% 6.8% 7.1% Total Employment 164, , , ,067 EUGENE MSA (Lane County) NONFARM PAYROLL EMPLOYMENT (by place of work) -Change from- Nov. Oct. Nov. Oct. Nov TOTAL NONFARM PAYROLL EMPLOYMENT 149, , , ,400 TOTAL PRIVATE 119, , , ,300 Mining and Logging 1,000 1,000 1, Construction 5,900 6,000 5, Manufacturing 12,900 13,000 12, Durable Goods 8,700 8,800 8, Wood Product Manufacturing 3,400 3,500 3, Transportation Equipment Manufacturing Nondurable goods 4,200 4,200 4, Trade, Transportation, and Utilities 30,100 29,100 28,700 1,000 1,400 Wholesale trade 5,900 5,800 5, Retail trade 20,800 19,900 19, ,100 General Merchandise and Clothing Stores 5,300 4,900 5, Food and Beverage Stores 4,200 4,200 4, Transportation, Warehousing, and Utilities 3,400 3,400 3, Information 3,300 3,300 3, Financial Activities 7,200 7,200 7, Professional and Business Services 14,700 15,700 15,100-1, Administrative and Support Services 7,800 8,000 7, Educational and Health Services 23,700 23,400 22, Health Care 18,400 18,400 18, Leisure and Hospitality 15,400 15,500 15, Accommodation and Food Services 13,600 13,600 13, Food Services and Drinking Places 11,900 11,900 11, Other Services 4,800 4,800 4, Government 30,100 29,500 31, Federal Government 1,500 1,600 1, State Government 13,200 12,700 13, State Education 10,800 10,400 11, Local Government 15,400 15,200 15, Local Education 8,700 8,500 9, 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. Employment Department Workforce Analysis 5
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