Although the unemployment rate rose to 4.5% in December, employers are reporting job growth with more than 6,100 jobs added. But not all businesses.
OREGON, USA – Economic organization reported this week Oregon continues to see a strong labor market, with many sectors returning from the pandemic. Despite a slight increase in the unemployment rate at 4.5%, up from 3.5% this summer, employers added thousands of new jobs in December.
“Employers added 6,100 jobs during the month,” said state economist Gail Krumenauer. “Manufacturing increased by 2,400 jobs in the month. We saw an increase of 1,300 jobs in construction in December and we also saw an increase of 1,100 jobs in professional and business services.”
In total in 2022, employers added more than 81,000 jobs.
“Tcap is very strong by historical standards, and we also saw unemployment, especially in the middle of the year, ge.ti down all the time close to all the time record low again and now we see a very strong labor market for employees, there are many job opportunities out there that they can choose from,” Krumenauer said.
However, some sectors, such as education, leisure and hospitality, and other sectors of the service industry have struggled to return to pre-pandemic levels of employment. Another area affected: finance and insurance.
“Approximately 1,500 jobs have been lost in the past year, so there has been a slight decline in jobs and money and insurance,” said Krumenauer.
In that group, no one knows that fact better than employees in the mortgage industry like Donna Rogers, Melanie Richards, and Kristi Rowe. They have been working in this field for over 20 years.
“Everyone says the economy is improving and it is, but it’s not for our industry,” Richards explained. “Our industry, for the most part, it is based on interest, and as you know, last year the interest rate doubled from 3, 3-3-and-a-half, above 7%. borrow because you can’t afford it, but Especially as a first time home buyer.”
Rogers and Rowe are senior loan officers, and Richards is a secretary. They have been out of work since last summer.
“Even though things are late, you’re never ready until you get that phone call,” Rogers said.
Despite their constant efforts to find work in this and other industries, they have hit many road blocks.
“Any mortgage job that’s out there, there’s 25 to 3,000 people applying for these jobs, and you know, I used Indeed and it’s going to show a lot of applicants, and it’s all over the country. ,” Rowe said.
They are worried that their unemployment benefits will soon run out in a few months. Unemployment insurance benefits usually last for 26 weeks.
“It’s scary to know that we’re not going to get any kind of supplement.”