Oregon Ranks Second Nationally In Unemployment
Portland, OR April 17, 2009 10:53 a.m.
Oregon has the second-highest unemployment rate in the nation -- just behind Michigan.
State employment economist, Art Ayre, says Oregon is highly susceptible to economic change.
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| Check out our map of recent layoffs around the Northwest |
Art Ayre: "We tend to be more cyclical. So that when the economy is doing well, we're growing more rapidly than the nation and other states. And when the economy is doing poorly, we're declining more rapidly than the nation and other states."
He says part of the reason for that is Oregon's distance from the east coast and its economic activity.
So businesses here have focused on manufacturing and agriculture -- on things that can be shipped long-distances. And it's those economic sectors that are suffering now.
State employment economist, Art Ayre, says part of the reason is in-migration. But more than that, Oregonians who weren't working a few years ago are now looking for jobs.
Art Ayre: "Recently for some reason, and it could be for a variety of things such as a downturn in the stock market, the need to supplement a family's income or householdís income or perhaps other reasons. People are coming back into the labor force."
He thinks many older Oregonians whoíve seen their retirement nest eggs shrink in the stock market, are looking to supplement their incomes.
Oregon's unemployment rate jumped almost one-and-a-half percent in March -- the largest monthly increase in the nation.
© 2009 OPB
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