Wednesday, January 19, 2011

Oregon December Unemployment: Still Stuck at 10.6%

The December Oregon unemployment figures were announced today and, as usual these days, they contain both good and bad news.  The bad news is that the unemployment rate is stuck at 10.6%, the good news is that for four months running now the state added private sector jobs.  Oregon added, on a seasonally adjusted basis, 400 private sector jobs in December, however government shed 2,200 jobs leaving the state with a net loss of 1,800 jobs.

The take away is the same as last month - the situation is improving but at a glacial pace.  The wave of budget crises in the states will continue to put the brakes on growth as spending cuts are made and jobs shed - which is severely hampering our ability to climb out of the hole we've created.

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