Oregon’s unemployment rate ticked up a tiny fraction in July to 6.9 percent. The state’s unemployment rate has been bouncing between 6.8 and 6.9 percent for the past six months.
That’s a little higher than the national average of 6.2 percent.
Employment Department economist, David Cooke, said the growing sectors of Oregon’s economy appear to be balancing out those that are shrinking. “We saw some gains in manufacturing up 1600 jobs on a seasonally adjusted basis; health care and social assistance up 1300. Other services up 1400,” he said.
“And on the downside we saw retail trade down 1400 and private educational services down 1300. Overall these industries cancel each other out pretty much and total non-farm payroll employment was up 200 jobs in July.”
Many economists believe a population is fully employed when the unemployment rate stands between five-and-a-half and six percent, but there’s some disagreement on the exact numbers.
OPB | Feb. 22, 2017