Oregon’s unemployment rate remained at 3.5% in July, unchanged from the month of June. Oregon’s unemployment rate has tracked very closely with the national unemployment rate for the past two years, with both rates declining rapidly during May 2020 through early 2022 as the economies recovered. Over the past five months, unemployment rates for the U.S. and Oregon have averaged 3.6%, near record lows dating back almost 50 years. As of July, Oregon has regained 94% of jobs lost at the onset of the pandemic. The U.S. has regained 100%. Oregon’s private sector is close to a full jobs recovery, having regained 99% of pandemic recession losses. However, Oregon’s government sector has only regained 49% of the jobs it lost during March through June 2020.