Oregon jobless rate climbs to 12.2 percent


Tuesday, September 15, 2009 | 2 comment(s)

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SALEM (AP) — Oregon’s unemployment rate ticked upward to 12.2 percent in August, with state economists sticking by their prediction of a slow, jobless recovery in the near term.

The seasonally adjusted rate has been hovering around 12 percent for the past six months. The August rate was up over July’s 11.8 percent level — among the highest unemployment rates in the country. The U.S. employment rate rose from 9.4 percent in July to 9.7 percent in August.

In its monthly jobs report, the Oregon Employment Department said Oregon’s economy shed 6,600 jobs last month as the state continued to struggle with the deepest recession in decades.

In all, about 235,745 Oregonians were on the jobless rolls in August, compared with 126,604 a year ago at this time.

“Today’s employment report is further evidence that any early signs of economic recovery will likely be accompanied by some employment rate instability, requiring all levels of government to continue to act with prudence and caution,” Gov. Ted Kulongoski said.

David Cooke, an economist with the employment agency, said even though state and federal economists are seeing the beginnings of economic recovery, joblessness will remain high for some time.

“There will be a continued rise in the state and U.S. unemployment rate for the next few months,” Cooke said. “We are forecasting slow growth of payroll employment beginning in the second quarter of 2010.”

The state employment agency’s latest report said last month’s seasonally adjusted job losses came in four major industries: leisure and hospitality; local government employment; professional and business services; and educational and health services.

However, it said, the numbers contained a positive trend as well.

“The long-term slide in employment in both construction and manufacturing at least temporarily halted,” the agency said. “Both of these two major industries performed roughly in line with their normal seasonal pattern.”

John Mitchell, a Portland economist, said he believes factors such as an uptick in home sales indicate that Oregon’s overall economy has hit bottom and is slowly coming back up. At the same time, he said, businesses are likely to wait a while longer before adding jobs.

“We are just now going through the process of ending this recession,” Mitchell said.
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MIKEY1052 wrote on Sep 15, 2009 11:59 AM:

It's all good Mr Bernanke just announced the recession has now probably ended.
(He is the same fraud who did not see this disaster coming, who told us that sub-prime was contained in the spring of 2007 and told us the whole mess would cost $200 billion for the goobermit to fix)

72% of GDP is consumer spending.

10% "official" national unemployment...

A Jobless “Recovery”, it’s in the bag baby!

--------

Our country has been over consuming for years via our good friend easy credit, (courtesy of the Federal Reserve) resulting in our ever expanding red hot economy that was a fraud. Now all the expansion of all the stores and jobs must and will contract, (go away) the goobermit be danged.

The morons in all goobermit but especially our state goobermit are perhaps the biggest part of the problem.

We need more government and more government programs to take more of the dollars we no longer have...

Its all comrades we will just collectively give all our income to our loving nanny goobermit and she will see to all our needs...

Retired wrote on Sep 15, 2009 11:52 AM:

Obviously Obama isn't going to come to Oregon and promise to give us our jobs back...Those of you who make the mistake of voting for this Socialist-stop and think..You have to be from Michigan, Ohio, Florida or Arizona to receive any attention from this President.


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