Oregon’s unemployment moved up slightly in August, however, the size of the Oregon workforce expanded to it’s largest on record, of 2.1 million workers.
What does this mean? Well, the state added more 4,600 more jobs, but more people joined the workforce than the number of new jobs that were created. This can happen when more people enter the workforce from summer, part-time, or seasonal work. As they look for new jobs, this increases the overall “jobless rate”.
What’s interesting is that Oregon is seeing a consistent growth in it’s workforce.
Oregon has seen 50 straight months of job growth, another record for the state.
The current seasonally adjusted jobless rate for Oregon was 5.4% in August, up slightly from 5.2% in July. The national unemployment rate for August was unchanged at 4.9%.