Tuesday, December 17, 2013

Oregon's Recovery Continued in November: Unemployment Falls to 7.3%

Oregon's unemployment fell to 7.3% in November on the strength of 5,400 added jobs (on a seasonally adjusted basis). This drop in the unemployment rate occurred even with the labor force growing.  As the two graphs above demonstrate, we have been in steady recovery mode for an extended period and though we still have some way to go, we are doing well.

So what is the bad news?  Hard to say, the continued weakness in Europe is still a drag be we have moved away from outright crisis there.  Asia appears to have stabilized as well at least for now but the booming BRICS have cooled off.  All this suggests to me both continued slow growth and a evening out at something less than the pre-crash level of employment.  

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