Oregon's unemployment rate hits a five-year low
- Sergio Cisneros/OPB
- Portland Tribune - News
Oregons unemployment rate has dropped to 7.7 percent. That's the lowest its been in the five years since the start of the Great Recession.
Oregons latest jobs report covers two months, catching up from a federal government shutdown that delayed most economic data.
Joblessness in Oregon fell from 8.2 percent in August to 7.7 percent in October.
Oregons Labor Economist David Cooke said construction, hospitality and leisure are growing industries, but government jobs are declining.
Were seeing residential construction picking up, following a prolonged period of very low activity over the past three calendar years. And then in the government sector its just been a long trend of reductions in budgets, and thats been hitting federal government agencies as well as local government agencies especially," he explained.
Cooke said fewer people in Oregon are looking for work. The 61 percent labor force participation rate is the lowest since the department started tracking these rates in 1976.
The states unemployment rate is a half-point higher than the U.S. average.