Is Oregon's Job Picture Good News Or Bad?
Portland, OR August 18, 2009 9:34 a.m.
Oregon’s job picture is nothing, if not consistent. For the fifth month in a row, Oregon’s jobless rate remains steady.
That could be good news or bad news, depending on your perspective.
As Rob Manning reports, the state is not losing nearly as many jobs as it was earlier this year – but there's not much hiring yet, either.
Art Ayre is the state economist who delivers the employment numbers every month.
Art Ayre: “The unemployment rate was estimated at 11.9 percent for July. That’s essentially unchanged from the revised June level of 12.0 percent.”
Ayre says manufacturing and the construction trades are still losing hundreds of jobs, at a time of year when they normally add thousands of them.
Leisure and recreation are doing a little better. Hotels and restaurants are hiring - but not nearly as many people as they look for when the economy is better. And Ayre says the transportation, trade, and utilities’ sector stands out, with 1700 additional jobs. But he has an explanation for that.
Art Ayre: “This may be a bounce back from an extremely weak employment season back in the latter part of 2008. Normally, this sector adds substantial employment in October November and December. In 2008, there was almost no gain in trade, transportation, and utility during those months. And what we’re seeing now may be compensation for that very slow holiday hiring season.”
On the bright side, though, state officials say that recent job losses of about 1900 jobs a month aren't close to the 10,000 jobs being lost per month a short time ago.
And more of the jobless may be finding work. July’s jobless benefit claims are down 21 percent from June.
The state’s latest employment forecast -- from May -- doesn’t predict real job growth until next year. Officials will give an updated forecast in the next few weeks.
© 2009 OPB
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