By Josh Lehner
Oregon Office of Economic Analysis Blog
Oregon finally saw some real job growth in 2013. The state’s economy was strong enough to add 37,300 jobs over the year through November. That’s above average for a growth year and the largest November to November jobs gain since 2006. In fact, more jobs were created in 2013 than in 2011 and 2012 combined!
The addition of 37,300 jobs from November 2012 to November 2013 represents a growth rate of 2.3 percent. Job growth in 2013 was faster than the average rate for growth years since 2000, which is 1.7 percent. Oregon’s job growth in 2013 ranked as the fourth-fastest year of growth since 2000, but it was not enough to fill in the deep hole dug by the recession (Graph 1). That will require an additional 53,900 jobs.
Despite the job growth, the high number of unemployed Oregonians keeps downward pressure on worker earnings. The average hourly wage in 2013 was about $22.50 per hour. After adjusting for inflation, the average worker in Oregon is earning less than before or during the recession.Read the full article and discuss it »