Oregon unemployment keeps growing, but has it reached a turning point?
According to the , the state's rate rose to 4.6% in March, a slight bump from the 4.5% recorded in February. Oregon's unemployment rate has steadily increased since the rate dipped to 4.1% in March 2024.
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This means unemployment in the state is 0.4% higher than the current national average of 4.2%, which also jumped from 4.1% between February and March.
Since , the OED has reported that each month's increase is the when the state saw an unemployment rate of 4.7%.
However, economists shared some optimism: Many of the state's major industries — including healthcare, business and trade — boomed in March.
The highest gain was in health and social assistance with an addition of 4,600 jobs, professional and business services with 1,000 jobs, and wholesale trade with 700 jobs. Overall, Oregon's seasonally-adjusted nonfarm employment rose by 7,300 jobs.
'The return of workers who were on strike at a major health care provider contributed to the one-month gain of 4,600 jobs in health care and social assistance during March,' according to the OED. 'This industry has been leading private-sector job growth in Oregon over the past few years.'
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Economists also note that professional and business services have seen a major bounce back in the past year.
'Professional and business services added jobs in each of the first three months of the year, with gains totaling 4,500 jobs in that time,' they said. 'This reversed a generally declining trend in the industry during the prior two years when it shed 5,400 jobs during the 24 months ending December 2024.'
The current unemployment rate remains higher than the rates recorded three years prior to the Covid pandemic and recession that began in 2020 — indicating the state is still recovering from this period.
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