Tuesday, November 17, 2015

Oregon’s Unemployment Rate Edges Down to 6.0 Percent in October

Oregon’s unemployment rate edged down to 6.0 percent in October from 6.2 percent in September. Last year at this time, the rate was 6.8 percent.

Jobs grew by 2,100 over the month, with gains of 800 or more in four major industries offset by declines in two industries. See the chart below for details on individual industries.

Last month's job losses were revised by 4,400 in the positive direction. While preliminary estimates put the September figure at a loss of 5,300, revised estimates put the September loss at 900. Revisions occur when new information is gained that was unavailable at the time of the preliminary estimate. For more information on revisions, see below.

According to State Employment Economist Nick Beleiciks, "The large upward revision to September’s preliminary estimate confirms that job growth this year has been strong and widespread across many industries in Oregon.”

Over the past 12 months, Oregon’s expansion was strong and diverse. Since October 2014, payrolls grew by 54,800 jobs, or 3.2 percent—faster than the U.S. growth of 2.0 percent.

For more on how and why revisions are made, read Beyond the Numbers: Why are there revisions to the jobs numbers?

For the full press release, visit the Oregon Employment Department's Press Release Page.

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