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State Jobless Rate at Lowest Level Since 2001

SALEM, OR-Oregon's seasonally adjusted payroll employment rose to 1.62 million, its highest level ever. The previous record of 1.61 million was set in November 2000.

By Brian K. Miller | Updated on February 28, 2005

SALEM, OR-Oregon’s seasonally adjusted unemployment rate was 6.4% in January, down 60 basis points from the revised December figure of 7% and down 150 basis points from the end of January 2004, when seasonally adjusted unemployment was 7.9%. In addition, Oregon’s seasonally adjusted payroll employment rose by 4,400 in January to reach 1.62 million, its highest level ever 1.62 million. This is the first time the state has surpassed the previous peak of 1.61 million, which was set in November 2000.State employment department economist Patrick O’Connor tells GlobeSt.com that since January 2004 just about every sector has done pretty well. “The only real exception is manufacturing, which has lagged behind and is still down a little over 22,000 jobs from where it was prior to the recessions [despite adding 8,500 jobs over the past 18 months],” he says. “Construction and finance have been the best performers; both posted all time highs for seasonally adjusted numbers.”As a result, there were 131,805 Oregonians officially unemployed at the end of January 2005, which is down by about 27,000 from January 2004. While Oregon’s unemployment rate fell 60 basis points from December to 6.2%, the national unemployment rate also declined, falling 20 basis points to 5.2% from 5.4% in December.

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