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Oregon Unemployment Rate Falls In March

Oregon’s unemployment rate dropped to 3.8% in March, down from 4.0% in February, continuing its rapid decline of recent months.  The March unemployment rate is well below the 6.1% it reached a year ago and is the lowest since prior to the pandemic-induced recession two years ago, in March 2020, when it was 3.5%.  Oregon Employment Department Economist Gail Krumenauer says In March, Oregon’s seasonally adjusted nonfarm payroll employment rose by 5,600 jobs, following a revised gain of 9,700 jobs in February.  The U.S. unemployment rate was 3.6% in March and 3.8% in February.