Portland jobless rate falls to 6.4 percent

Portland jobless rate falls to 6.4 percent

Intel's $8 billion DX1 expansion is helping to drive metro area unemployment down to 6.4 percent.

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by Cornelius Swart, KGW.com Staff

kgw.com

Posted on March 10, 2014 at 12:33 PM

Updated Monday, Mar 10 at 12:42 PM

PORTLAND -- The Portland metro area’s unemployment rate fell to 6.4 percent in January, down from 6.6 percent in December and 7.9 percent from January of 2013, according to the Oregon Employment Department.

The metro area added about 1,000 jobs last month and 29,300 jobs since last year. Most major industries, with the exception of financial services, are doing as well as or better than they were last year, said employment economist Jessica Nelson.

“Gains have been powered by a recovering housing market, multi-family construction, and work on Intel’s D1X plant and subsequent expansion,” Nelson said.

While the construction industry lost 1,000 jobs last month, the industry as a whole grew 10 percent in 2013 and stayed the region’s fastest-growing industry, according to Nelson.

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