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Unemployment Rate Continues 'Statistically Insignificant' Moves In Right Direction

Oregon’s unemployment rate remained relatively steady last month. Its drop was statistically insignificant.

Oregon’s seasonally adjusted unemployment rate was 8.6 percent in October — essentially unchanged from 8.7 percent the month before.

Looking back a year, however, the economy does appear to be recovering. Since October 2011, Oregon has added about 15,000 jobs.

State economist Nick Beleiciks says the holiday season should also generate a few more jobs.

“So far, given the trends in retail trade, it’s shaping up to be a good season for holiday hiring.”

The average work week for Oregon manufacturing employees rose in October from 40.7 hours to 40.8 hours. The figure has been increasing for more than three years now.

It’s a good sign because businesses will eventually have to hire more people, so as not to overwork existing staff.

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