January 2010

November 2009
Salem MSA (Marion and Polk counties)
Jobless Rate and Employment

In the Salem Metropolitan Statistical Area (MSA) the seasonally adjusted jobless rate decreased in November to 11.1 percent from October’s revised rate of 11.4 percent. The Salem MSA’s unemployment rate matched the statewide seasonally adjusted rate of 11.1 percent in November. The unemployment rate for the Salem MSA in November was 3.2 percentage points higher than the rate 12 months earlier in November 2008.

In the Salem MSA, nonfarm employment has declined 7,600 over the past 12 months. 

Labor Force Summary

There were an estimated 20,710 Marion and Polk County residents unemployed in a civilian labor force of 193,667 for the month, and there were 172,957 residents employed including payroll employees, self-employed, farm workers, and residents commuting outside of the counties for work. Overall, there were 5,840 more people unemployed in the Salem MSA than in November 2008.

Nonfarm Payroll Employment

Nonfarm payroll employment statistics are by place of work, and estimate how many jobs have been added or lost in an area. They measure an area’s economic health, and are based on a survey of employers. Nonfarm payroll employment shows how many people were employed in a given area, on average, during the month.

In the Salem MSA, November total nonfarm employment was 144,800, a loss of 7,600 jobs since November 2008. Private nonfarm employment lost 7,100 over the past 12 months, while public sector employment declined 500 over that period. Educational and health services gained 400 jobs over the past 12 months.

From October to November, the Salem MSA’s total nonfarm employment decreased 1,400 jobs; the private sector shed 1,500 jobs during the month while government employment added 100 from its October level. November’s employment decline was larger than is typical for the Salem MSA which normally drops a little less than 900 jobs between October and November. Seasonally adjusted employment decreased 500 between October and November.

The construction sector shed 300 jobs in November. Over the past 12 months construction employment has dropped 1,100. Manufacturing employment shed 1,000 in November. Leisure and hospitality employment decreased 200 in November. Retail trade employment was up 300 in November; the sector has declined 1,500 jobs over the past 12 months. In the public sector, federal government and state government were both unchanged in November. Local government added 100 jobs. 

Outlook

The Salem MSA economy showed another employment drop in November, showing larger than normal seasonal drops in employment. However, the seasonally adjusted unemployment rate dropped to 11.1 percent, putting the Salem MSA’s unemployment rate in line with Oregon’s rate of 11.1 percent.

Construction, manufacturing and professional and business services employment have been the hardest hit sectors in the Salem MSA during the recession. Losses in these sectors and slower consumer spending have caused job loss in Salem to spread to sectors beyond manufacturing, construction, and professional and business services. It is likely that high unemployment rates will persist for the remainder of 2009 and in to 2010.   

These preliminary estimates will be revised as new data from businesses becomes available.

Pat O’Connor, Regional Economist at 541-967-2171 ext 230 or www.qualityinfo.org.

Economic Indicators
For complete information visit www.qualityinfo.org.

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SEDCOR Welcomes our New Members

December 2009

• Coldwell Banker Commercial Mountain West Real Estate, LLC - Jeff Miller
• Keizer Renaissance Inn & Conference Center
• Servpro of Salem West, Lincoln & Polk Counties

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Member News

Recent Press Releases [click here]

• Schrader Secures $500,000 for Salem's Mill Creek Corporate Center
• 2010 Mid-Willamette Valley Green Awards Nominations Sought
• Sanyo Solar of Oregon LLC Ships First Silicon Batch
• The Home Depot to Construct Distribution Center at Mill Creek Corporate Center

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Upcoming Member Events and Seminars

For full details on seminars and complete list of upcoming events [click here]

Tuesday, January 12th
Willamette Valley Business Forum - Chemeketa Center for Business & Industry
Using the Web to Build Buzz for Your Business
Presented by Tim Fahndrich, President, The Third River