Oregon's seasonally adjusted unemployment rate for January was 8.4 percent, essentially unchanged from 8.3 percent in December. The January 2012 unemployment rate was 9.0 percent.

On a seasonally adjusted basis, preliminary estimates from the federal Bureau of Labor Statistics (BLS) indicate nonfarm payroll employment in Oregon rose by 4,200 jobs in January. The private sector added 5,000 jobs over the month, while the public sector declined by 800.

Revised estimates for December show a gain of 1,200 jobs, when a gain of 2,000 was initially reported. Downward revisions were largest in trade, transportation, and utilities.

At the time of this press release, the Oregon Employment Department is also releasing the annual revisions to the prior two years' data. These revised numbers show that the jobs picture looked a little better in late 2011 and throughout 2012 than originally estimated. For the 2011 annual average, payroll employment was revised upward by 2,100 jobs or 0.1 percent. The 2012 annual average was revised upward by 6,500 or 0.4 percent, with the largest revisions occurring in professional and business services (revised upward by 7,500 jobs or 4.0%), manufacturing (+3,500 or 2.1%), and financial activities (revised downward by 3,100 jobs or 3.3%).

The newly revised payroll employment numbers show that, as was originally reported, Oregon's economy added jobs slowly and steadily for the past three years

Northwest Lending Group