Jobless rate unchanged

A possible ray of light: Oregon’s unemployment rate flatlines at 12.2 percent.

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The state’s seasonally adjusted unemployment rate went unchanged for May and June. While still higher than the 9.5 percent national average, the news could be a sign of a stabilizing economy.

“A 12 percent unemployment rate is very high for any state,” said David Cooke, an Oregon Employment Department economist. “It’s still the highest on record back to at least the 1950s.”

Oregon unemployment has been running second-highest in the nation behind Michigan. June’s state-by-state jobless rankings will be released Friday. Oregon’s level for the month was 2.7 percentage points above the U.S. rate of 9.5 percent.

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