Tuesday, August 12, 2008

Oregon Unemployment Now At 6.0%

From the Oregonian:

The creeping tide of job losses that began in February showed no sign of slackening -- or accelerating -- in July. Figures released Monday showed that Oregon lost another 3,600 jobs on a seasonally adjusted basis and saw its unemployment rate jump a half percentage point to 6 percent.
Three major industries -- construction, manufacturing, and educational and health services -- posted big seasonally adjusted job losses in July. Taken alone, they collectively erased nearly 5,000 jobs. The loss was partially offset by gains in the professional and business services sector.
July's decline was the fourth in the past five months. Since February's peak, payroll employment in the state has dropped by 11,300 to 1.731 million. About 114,000 Oregonians are unemployed, an increase of 13,400 from a year earlier.

At 6 percent, the state's seasonally adjusted unemployment rate has now risen by a full percentage point since it reached its recent low of 5.0 percent in February through April 2007.
Nationwide, the seasonally adjusted unemployment rate increased from 5.5 percent in June to 5.7 percent in July.
"We are faring about the same as the nation," said Art Ayre, a state employment
economist. "We're pretty much in lockstep on the downturn."

This doesn't include the 1,100 Hynix employees in Eugene.