by Ken Lux, Research Analyst, Oregon Employment Department
From the high point of approximately 1,490,000 private sector jobs in late 2007 to the low point of the 2008 recession the Oregon private-sector economy lost in excess of 200,000 jobs. Some three years later the job recovery is finally close to returning to that previous high level.
The number of jobs gained from opening establishments declined from 17,281 in the third quarter of 2013 to 16,061 in the fourth quarter of 2013. At the same time the number of jobs gained at expanding establishments also declined from 81,913 to 80,766. As a result, the number of gross job gains dropped by 2,367 to 96,827.
Increases in the number of gross job losses at both closing establishments and contracting establishments resulted in the number of job losses growing from 87,165 in the third quarter of 2013 to 92,724 in the fourth quarter. The combined effect of these changes was a seasonally adjusted net employment gain of 4,103 jobs in the fourth quarter of 2013.
Read Ken's full article and get more on Oregon's Labor Market and QualityInfo.org.