State Unemployment Drops Back Below 8%

PORTLAND-Oregon’s seasonally adjusted unemployment rate declined to 7.9% in March from 8.1% rate in January and February, according to the state employment department, marking the first drop since November 2000 when the rate stood at 4.7%. The U.S. rate, by comparison, rose two-tenths of a point to 5.7% in March.

Despite Oregon’s slight reduction in unemployment rate last month, the March payroll employment figures show Oregon has been slow in seeing signs of an economic rebound, according to the Oregon Employment Department. In March, total nonfarm payroll employment rose less than expected, gaining only 7,000 jobs when a gain of 8,400 jobs would be expected for the time of year. The manufacturing sector continued to shed jobs, dropping 1,000 in March. Construction and public utilities also showed weakness last month. On the up side, retail trade posted 900 more jobs than normally can be expected for March.