Central Oregon Economic Indicators—April 2024

Published on Jun 10, 2024

Economy in Central Oregon

By Nicole Ramos | Regional Economist Serving the East Cascades of Oregon | Oregon Employment Department

All over-the-year total nonfarm employment gains in April were concentrated in Deschutes County, with employment up by 290 jobs. In contrast, Crook County saw employment decrease by 320 jobs over the year, while Jefferson County employment increased by 30 jobs.

The nation’s seasonally adjusted unemployment rate increased slightly from 3.8% in March to 3.9% in April, and at the statewide level, the unemployment rate remained unchanged from March to April at 4.2%.

The seasonally adjusted unemployment rates in the counties of Crook and Jefferson decreased over the month of April but increased in Deschutes County. Crook County’s unemployment rate went from a revised rate of 6.4% in March to 6.3% in April; Jefferson County’s rate went from a revised 4.8% to 4.7%; and Deschutes County’s from a revised rate of 4.0% to 4.1%.

Topic of the Month: Private Employment by Firm Size

This month, I’m focusing on employment growth in Central Oregon by firm size, using data from the Quarterly Workforce Indicators published by the Census Bureau. The data in the monthly graph (attached) depicts the quarterly employment trends by firm size in Central Oregon, while the data below shows employment growth by firm size since 2013. Overall, Central Oregon has experienced strong employment growth over the past decade, but this growth hasn’t been evenly distributed across different firm sizes.

Historically, companies with fewer than 50 employees have had the most workers, making up the majority of the region’s workforce, highlighting the importance of small businesses as a driver of employment in Central Oregon. While smaller firms dominate numerically, the most rapid growth has consistently been in companies with 20-49 employees. The number of total employees in this size category has grown by 65% over 10 years. However, firms in this employment category have only made up an average of 14.8% of total employment in Central Oregon over the past decade. Employment in firms with 500 or more employees has seen the second strongest growth, expanding by 62% during this period. The latter signifying a potential change in the reliance on larger firms in the regional economy.

Looking at the percentage of total employment held by each firm size category also supports a shift. In 2013, businesses with 0-19 employees accounted for 35.1% of total employment. By 2023, this share had decreased to 30.6%. During this same time, the share of employment held by businesses with 500 or more employees increased from 31.3% to 35.1%.

In short, while smaller firms traditionally drive initial job creation, more recently larger firms seem to be driving employment in the region highlighting their increased importance in the employment landscape of Central Oregon.