Oregon Unemployment Rate Drops to 4.9%

SALEM, Ore. (AP) — The unemployment rate in Oregon’s dropped to 4.9% in August — the lowest rate since March 2020 when it was 3.6%.

The Oregon Employment Department reports July 2021 saw 5.2% unemployment in the state, following a similar drop in unemployment nationwide — from 5.4% to 5.2%.

Recovery

KOIN reports it is the third time since 1976 that Oregon unemployment has dropped below 5%.

According to data from the state, the only other two periods of time Oregon had below 5% were 14 consecutive months in the mid-1990s when unemployment was as low as 4.5%, and during the 51 consecutive months during 2016 through March 2020.

The employment department said some industries have recovered more than others, with the health care and social assistance sector still lacking 10,400 jobs since its February 2020 peak.