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":2,"featured_media":15166,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[14428,14429,14430,1096,28,14431,2754,14432,14433,14434,101,14435,14436,939,14437,13833,2420,14438,14439,8697,312,14440,14441,14442,4061,14443,145,14444,8598],"class_list":["post-82225","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-actions","tag-application-form","tag-assistance","tag-benefits","tag-business","tag-concepts-and-ideas","tag-depression","tag-document","tag-downsizing","tag-economic-depression","tag-economy","tag-employment-issues","tag-end-of-the-line","tag-finance","tag-firing","tag-frustration","tag-government","tag-job-search","tag-manual-worker","tag-meltdown","tag-no-people","tag-occupation","tag-out-of-work","tag-paperwork","tag-pen","tag-recession","tag-unemployment","tag-wages","tag-working"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/82225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=82225"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/82225\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/15166"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=82225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=82225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=82225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}