Oregon's semiconductor workforce has fallen to a 30-year low, and the state has shed jobs for 16 straight months. For Beaverton's tech workers and the businesses that depend on them, the recovery hasn't started.
State economist Carl Riccadonna outlined persistent weakness in the labor market during his quarterly revenue forecast to state lawmakers on Aug. 26. He called the labor market "low-hire, low-fire," The Oregonian reported.
Workers are holding onto the jobs they have. New opportunities remain scarce, Riccadonna said.
"The trend is favorable … but subtle," he told lawmakers.
The pattern is national, but it hits harder here. Oregon's unemployment rate stood at 5.2% as of the August forecast, above the national average, according to OPB.
Economic output grew 2.4% over the past year, trailing the national rate of 2.7%.
Beaverton's biggest employers shed thousands
Intel, Oregon's largest corporate employer, eliminated close to 7,000 Washington County jobs in 2024 and 2025. The chipmaker still employs about 16,000 workers in the county, according to The Oregonian.
Its stock price has nearly quadrupled in the past year, driven by the artificial intelligence boom. Hiring has not followed.
Nike, headquartered in Beaverton, announced plans to cut about 1,400 roles in April, with the majority in technology, according to the Portland Business Journal.
The company hired Jane Ewing as executive vice president and chief commercial officer, effective Sept. 7.
A Business Oregon analysis published in July warned the state's chip industry is "at risk of becoming an insignificant stakeholder" globally.
The report cited over-reliance on Intel, a lack of homegrown talent and regulatory uncertainty, The Oregonian reported.
Oregon layoff notices topped Great Recession levels in 2025, according to The Oregonian, and Riccadonna pointed to the semiconductor industry as the primary driver.
The state lost nearly 8,500 manufacturing jobs over the past year, according to state employment data cited by OPB.
Some positive signals
The August forecast included some encouraging data. State revenue for the 2027–29 budget period is projected to come in $538 million above the May forecast, the Oregon Capital Chronicle reported.
The boost comes from personal income tax collections, suggesting wages are rising even as hiring stalls.
Lam Research, a semiconductor equipment maker based in Tualatin, broke ground Aug. 26 on a $620 million research lab. The company expects to add more than 400 jobs when the facility opens in 2028, according to OPB.
Oregon also secured $15 million in National Science Foundation (NSF) funding in July for the FAST semiconductor coalition, with the potential for up to $160 million over a decade, the Beaverton Valley Times reported.
Even health care, previously the state's most reliable source of new jobs, is cooling. Riccadonna said the pace of health care job openings is slowing, raising questions about what replaces that engine.
Gov. Tina Kotek's data center advisory committee is scheduled to hold its final public meeting Sept. 23, with a report on tech-sector regulatory policy due in October.
