Oregon’s Unemployment Rate Has Stayed Near 4 Percent for Three Years

Oregon’s unemployment rate was 4.1 percent in September and October. The rate has been between 4.0 percent and 4.4 percent for an unprecedented 36 consecutive months dating back to November 2016. The U.S. unemployment rate ticked up from 3.5 percent in September to 3.6 percent in October.

Other measures of Oregon’s labor force also indicated a tight labor market in recent months. Fewer individuals are remaining unemployed for extended periods: The number of individuals unemployed for 52 weeks or more dropped to 6,000 in October, which was the lowest level in a dozen years and well below the peak of 70,000 in 2010. The number of unemployed who lost their job has remained close to 32,000 for the past three years, which was less than one-quarter of those unemployed due to a job loss in 2009. Meanwhile, the number of people who were unemployed due to leaving their job voluntarily has recently risen above 16,000, up from an average of 12,000 during the prior six calendar years. The increase in the number of people leaving their jobs voluntarily could indicate increasing confidence among workers of being able to easily find another job if they quit their current job.

Read the full press release here.