Unemployment holds steady

Oregon’s unemployment rate flatlined in July – a possible sign of the recession’s end.

Share this article!

Unemployment in Oregon held flat at 11.9 percent in July, with the fewest jobs lost for any month of the past year. An uptick in temp hiring is another possible sign of an improving economy.

A one-month loss of 700 jobs, seasonally adjusted, and an unemployment rate that remains among the nation’s highest are not exactly good news. But economists highlight Oregon’s slowing rate of decline and say the recession’s departure — if not a end to high unemployment — is in sight.

Oregon might escape 13 percent unemployment after all, said Tom Potiowsky, state government’s chief economist.

One promising indicator: Temp hiring, which had declined most of the past year, turned positive in July. Economists watch the employment-services industry as a lead indicator of economic recovery, because companies often hire temporary workers initially as business picks up.

Read the full story at OregonLive.com.

{biztweet}Oregon unemployment{/biztweet}

Latest from Oregon Business Team