Biggest Job Losses in Oregon Last Month Were in Semiconductor and Electronic Manufacturing

Cutbacks in the semiconductor and electronic component manufacturing industries were responsible for the highest number of job losses in Oregon in December.

Cutbacks in these two industries numbered 1,500, according to a news release from the Oregon Employment Department.

In mid-October, Intel announced it would lay off 1,300 people at its Hillsboro campus at the end of the year.

A Total of 3,700 Oregonians Lost Their Jobs in December

The total number of jobs lost in Oregon in December was 3,700.

The biggest decline was in the leisure and hospitality sector, where 1,900 people lost their jobs, bringing to 3,200 jobs slashed in the industry in the last two months of the year.

Manufacturing followed close on its heels with 1,800 job losses, financial activities 1,000, and the retail trade 900 jobs.

The job losses came after the similar-sized increase of 3,700 jobs in November when the health care and social assistance industries increased their workforce by 1,900 and the government sector by 700 jobs.

Job Gains and Losses Throughout 2024

Over the last year, it was the healthcare and social services sectors that continued their pace of rapid hiring, adding 18,100 jobs.

However, manufacturing dropped 2,500 jobs – 500 in wood product manufacturing, 300 in machinery manufacturing, and 600 in transportation equipment manufacturing.

Oregon’s unemployment rate remained consistent with the national average at 4.1% in December and 4.0% in November. The state’s unemployment rate has consistently remained between 4.0% and 4.2% since October 2023.