Oregon unemployment rate sets new record

From the Oregon Employment Department:

Oregon’s seasonally adjusted unemployment rate rose to 12.4 percent in May compared with 11.8 percent (as revised) in April.
The 12.4 percent reading was the highest on record since the current series began in 1976, topping the previous high mark of 12.1 percent set in November 1982.
The state’s unemployment rate remains more than twice as high as its year-ago level of 5.7percent in May 2008. The U.S. seasonally adjusted unemployment rate rose to 9.4 percent in May, from 8.9 percent in April.
In May, Oregon’s seasonally adjusted nonfarm payroll employment declined by 100 jobs, following a drop of 8,100 (as revised) in April. The May employment figures were by far the smallest job loss of any month over the past 10 months.