Tuesday, March 17, 2009

Oregon jobless rate hits 10.8%

From the Oregonian:

Oregon's unemployment rate hit double digits in February -- 10.8 percent -- as the state lost 21,700 jobs, seasonally adjusted, during the month.
That's the highest jobless rate for Oregon since July 1983.
State officials said this morning that the unemployment rate jumped a full percentage point, up from January's 9.8 percent, a figure revised from 9.9 percent initially reported.

"In February, all seven of Oregon's largest private-sector industries recorded substantial seasonally adjusted job declines," the Oregon Employment Department reported. "The losses werewidespread, with manufacturing down 4,900 jobs and the other six major industries each down between 2,300 to 3,500 jobs."
Oregon's unemployment rate has rocketed during the past eight months, up from 5.9 percent last June.
It far exceeds the U.S. seasonally adjusted rate of 8.1 percent in February, which rose from 7.6 percent in January.