Oregon\u2019s unemployment rate hit 5% in July, its highest level in nearly four years. <\/p>\n
The jobless rate hasn\u2019t topped that threshold since 2021, when the state was still recovering from the mass layoffs and furloughs of the COVID-19 pandemic.<\/p>\n
The national unemployment rate in July was far below Oregon\u2019s, at 4.2%, signaling that Oregon\u2019s workforce is falling behind other states. <\/p>\n
The summer has been especially brutal for the state\u2019s labor market. Oregon lost 2,700 jobs last month, which followed a loss of 8,600 jobs in June. <\/p>\n
Intel\u2019s layoff of around 2,400 employees<\/a> in recent weeks, the largest layoff in the state\u2019s history, could be a big factor in the state\u2019s job losses. <\/p>\n It\u2019s the manufacturing industry, where Intel is a key employer, that has been hit the hardest since last July, said Gail Krumenauer, state employment economist. Since then, Oregon\u2019s manufacturing industry has lost 9,400 workers \u2014 or 5% of its workforce. <\/p>\n Job losses also have mounted over the past year in the construction and financial services industries. Both have seen unemployment rates grow to about 4% over the past year. <\/p>\n \u201cWe\u2019re seeing many of the same large trends we\u2019ve been talking about,\u201d Krumenauer said. \u201cIt\u2019s just that the overall picture looks weaker than originally reported.\u201d <\/p>\n The construction industry did rebound slightly in July, however, adding nearly 3,000 workers.Two industries that have seen the most growth have been health care, which grew by around 3% last month, and the hospitality industry, which grew by 1% as hotels and restaurants staffed up. <\/p>\n If you purchase a product or register for an account through a link on our site, we may receive compensation. By using this site, you consent to our User Agreement<\/a> and agree that your clicks, interactions, and personal information may be collected, recorded, and\/or stored by us and social media and other third-party partners in accordance with our Privacy Policy.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Oregon\u2019s unemployment rate hit 5% in July, its highest level in nearly four years. The jobless rate hasn\u2019t…\n","protected":false},"author":3,"featured_media":68585,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[48545,48546,19028,3231,64,32442,6017,17286,48547,48548,79,48549,48550,525,48551,26824,454,48552,48553,48554,40335,48555,48556,17290,20927,10405,766,67,132,68,14417,45873],"class_list":{"0":"post-144411","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-actions","9":"tag-application-form","10":"tag-assistance","11":"tag-benefits","12":"tag-business","13":"tag-concepts-and-ideas","14":"tag-depression","15":"tag-document","16":"tag-downsizing","17":"tag-economic-depression","18":"tag-economy","19":"tag-employment-issues","20":"tag-end-of-the-line","21":"tag-finance","22":"tag-firing","23":"tag-frustration","24":"tag-government","25":"tag-job-search","26":"tag-manual-worker","27":"tag-meltdown","28":"tag-no-people","29":"tag-occupation","30":"tag-out-of-work","31":"tag-paperwork","32":"tag-pen","33":"tag-recession","34":"tag-unemployment","35":"tag-united-states","36":"tag-unitedstates","37":"tag-us","38":"tag-wages","39":"tag-working"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115025738813468066","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/144411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=144411"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/144411\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/68585"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=144411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=144411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=144411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}