Portland’s July unemployment rate declined in the face of increasing energy costs and higher interest rates nationwide.

The Portland-Vancouver area’s dropped one-tenth of a percentage point from June to 4%, according to the Oregon Employment Department’s monthly report. The unemployment rate remained lower than the state’s rate of 4.7 percent and the nation’s rate of 4.2 percent.

Total nonfarm jobs in the Portland metro area dropped by 4,500 to 963,400. The service sector added 1,900 net jobs, gaining 2,400 in business services, which includes temporary staffing, and losing 1,100 in private education.

State economists warn that layoffs in the transportation equipment industry will weaken growth in future months. Earlier this week, Freightliner announced it will lay off 770 workers in Portland.

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