The unemployment rate in the State of Oregon went up once more in August 2012 to 8.9%. This rate rose 0.2% for the month, and is the now 4th straight month with an increase in Oregon. Additionally, the 8.9% rate is now the highest in the state for all of 2012 (0.1% over the January rate of 8.8%).
In August there were an about 175,700 workers unemployed in the state, a rise of about 3,000 compared to prior month of July. There was also a drop of about 9,000 people from the number of employed in Oregon during the month. This, partnered with a drop of around 6,000 in the total Oregon workforce brought about the 0.2% rise in the unemployment rate in August 2012. When compared to U.S. average, Oregon's unemployment rate is currently 0.8% higher that the national average of 8.1%. Moreover, while the U.S rate has been largley unchanged (or even gradually lower), the rate in Oregon has been on the rise of late.
Looking back on the past year the current 8.9% rate is still lower than the August 2011 unemployment rate of 9.5%. During the past year, the number of unemployed workers has gone down by approximately 14,000. Furthermore, the total number of employed people has increase by around 1,000. A big change, however, from a year ago is that there are roughtly 15,000 fewer workers in Oregon's overall workforce. These workers have likely either left the state or have quit actively looking for work.
Several neighboring states in the area have also seen their recent unemployment rates trend upwards. The State of Washington has had it's rate increase by 0.1% in August to 8.6%. Nevada, already with one of the highest rates in the nation, saw it's unemployment rates increase (0.1%) in August to 12.1%. The state of Wyoming also went up in August (by 0.1%) to 5.7%. However, several regional states did experience decreases in August 2012. Both the States of California (down 0.1% to 10.6%) and Idaho (down 0.1% to 7.4%) were down in for the month.
Although the unemployment rate was up in August, many of Oregon's major business sectors saw positive numbers during the month. Up in August were Construction, Manufacturing, Trade Transportation & Utilities, Information, Financial Activities, Professional & Business Services, Education & Health Service, and Leisure & Hospitality. The only business sector showing a decrease in August was Government. Mining and Logging was unchanged for the month. The industry with the biggest employment numbers in August was Trade Transportation & Utilities, followed by Government.
Please check back in a few weeks when the September employment numbers will be published for Oregon. We'll review the state's results and see how it measures up to other states in the region. Understand that formerly released employment statistics can changed at a later date.
If you're unemployed in OR and looking for information please visit the Oregon Unemployment Headquarters.
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