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Oregon unemployment down to 11.3%

by David Krough and AP Staff

Posted on November 16, 2009 at 11:21 AM

Updated Tuesday, Nov 17 at 8:32 AM

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SALEM, Ore. – Unemployment remained virtually unchanged for the month of October in Oregon as the rate went from 11.5 to 11.3 percent.

Nationwide the rate is 10.2 percent.

"Today’s employment report shows that Oregon’s unemployment rate is starting to level off and stabilize, which is promising news," Governor Ted Kulongoski said in a statement. "This week we will also receive the next quarterly state revenue forecast, which will provide another snapshot about the state of Oregon’s economy. 

“Today’s employment report and the forecast later this week are critical indicators for state and local governments as we continue to budget prudently and plan for a long, slow economic recovery.

 

The state of Oregon only tracks and publishes the state's official unemployment; it does not tally the number of "under-employed" residents. The "under-employed" refers to those who are eligible to work and available for employment but not actively seeking it for one reason or another. It also includes a subset called the "marginally-attached workers," who aren't working and aren't looking for work, but who have looked for work recently.

Adding together the under-employed and unemployed gives federal Bureau of Labor Statistics economists a peak at what's really going on in the work force.

Most of the economists in a new survey say they think the recession is over, and that an expansion is under way. But they also expect the recovery to be a slow one, amid continued worries over unemployment and high federal debt. The view comes from more than 80 percent of the people surveyed by the National Association for Business Economics.

(KGW Reporter Joe Smith contributed to this report)

 

 

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shallowend said on November 16, 2009 at 11:33 AM

I expect all the pukes (left and right) to spin this into a top. I just got my annual report from a company I own stock in. It trumpeted the fact that it had the third highest profit (net $, not %( last year in it's history, while cutting 22,000 jobs. I own my own business and I appreciate profit as much as the next guy, but there is such a thing as "unconscionable". As of this morning, I no longer have stock in the company.

corporatemom said on November 16, 2009 at 5:12 PM

Shallow - good choice regarding your stock. It has always been my beef that CEOs get paid bonuses for profitability and when they see they can't reach their numbers - they lay off masses. No talent in doing what that CEO did. Ted - REALLY????? 11.5 to 11.3 DOES NOT reflect that the unemployment situation is starting to stabilize. Of course, if Ted actually believes that it could explain some of Oregon's problems...

last__boyscout said on November 16, 2009 at 7:38 PM

Brave move Shallow. And you've got to love the syrupy sweet way that Kulongoski's media groupies lay out his story (not KGW's) and make it sound as though it's getting better. Two years ago the headline would have read " The Bush recession causes Oregon's unemployment......"

ptcvolunteer said on November 17, 2009 at 8:24 AM

Right on Shallow! I've worked in high tech for 35 years and watched the people who steer get rewarded for throwing the workers overboard when the ship is about to hit the reef WAY too many times...

topazgirl said on November 17, 2009 at 9:58 AM

Yes...0.2% feels like nothing! And with the Employment Department's dwindling ability to help the unemployed find work or get schooling, it actually seems worse! Help with money for Winter Term in January is GONE, and money that was promised for my Fall term tuition STILL has not been sent to my college (and I'm well into the term...)! I'm sure this is now my responsibility, which is fine, but how and when I pay this, I don't know!....New jobs will come back, but staying afloat until then is the real trick! I guess this is when we Americans get to show what we are really made of!!.....Shallowend': Your moral stance is admirable, but take care of yourself, Hunee! Many people are depending on you, and it's feel pretty "dog-eat-dog" out here! Do what you need to do to survive this......