Oregon has highest job growth rate in March since 2005

Oregon experienced a job growth rate of 6.9 percent in March 2014.

Oregon job growth reached its fastest pace in almost a decade at 6.9 percent, according to the state's employment department. The state's job growth rate was 6.8 percent in February.

Oregon released its preliminary findings for job growth in March on April 15, 2014. The state found that after seasonal adjustment, it gained 7,500 new jobs. This is the largest increase since November 2005 when the state gained 9,300 jobs.

Various job sectors
Construction saw dramatic growth and surpassed 80,000 jobs since 2009. Construction added 1,800 jobs following the 1,300 jobs gained in February. Leisure and hospitality lost jobs in February but added 2,100 in March. Retail expanded by more than 1,200 jobs, financial activities added more than 900, professional and business services increased by more than 1,200, private education services added more than 800 and healthcare and social assistance added 1,400 jobs in March.

A few industries lost jobs in March, such as wholesale trade with 1,000 positions and trade, transportation and manufacturing lost a combined 2,000 jobs, The Oregonian reported.

Impact of the recession
The state lost 147,700 jobs between 2008 and 2010, according The Oregonian. Unemployment reached 11.6 percent during the recession. The number of adults in Oregon's labor pool is still low at 61.2 percent but it's remained stable for several months.

If the state's job growth rate continues at this pace, it will gain back all of the jobs it lost in the recession by the end of this year, according to The Oregonian.

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