Oregon Unemployment Rate Lowest Since Mid-2008

Oregon’s unemployment rate dropped to 6.3 percent in January, down from 6.7 percent in December.  January’s rate was the lowest since July 2008.   It continues a trend of decline dating to May 2009, when Oregon’s rate peaked at 11.9 percent.   The number of unemployed also declined to 124,000, from 138,000 a year ago.   Nonfarm payroll employment rose by 7,600–the fourth time in five months the state has added more than 6,000 jobs.  In addition to Oregon’s continued economic growth, January weather was unusually mild, which allowed many outdoor industries, particularly construction, to keep more workers on the job than they might usually at this time of year.

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