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Oregon’s private-sector employers added 500 jobs in September, pushing total private jobs to a record 1,676,100, even as a loss of government jobs drove overall nonfarm employment down for the first time in 13 months, the Oregon Employment Department said.
Total nonfarm payrolls fell by 600 jobs in September, hurt by a loss in “other services” (down 1,500), government (down 1,100), and financial activities (down 700). The losses were partly offset by gains in professional and business services (up 1,400), health care and social assistance (up 1,000), manufacturing (up 800), and leisure and hospitality (up 600).
Among the “other services” firms that cut jobs in September were civic, social and religious organizations, and nail salons.
Oregon’s unemployment rate edged up to 3.8% in September from 3.7% in August, and was above the recent low of 3.5% reached in May, June and July, the Employment Department said. The U.S. unemployment rate went the other direction, declining to 3.5% in September from 3.7% in August.
The uptick in unemployment comes as the U.S. Federal Reserve raises interest rates to cool consumer demand for goods and services. Higher rates make it more expensive to buy homes, cars and other big-ticket items that require borrowing. They also discourage consumers from using home equity lines of credit for smaller purchases, like big-screen TVs.
