Oregon Public Broadcasting

Oregon’s new unemployment rate, announced Monday, is at its highest in more than four years.  It’s one piece of a string of grim news about the Oregon economy. Salem correspondent Chris Lehman reports.

Oregon’s seasonally adjusted unemployment rate rose to 7.3 percent in October.  That’s the highest level since August 2004.  

The nearly one point jump from September is the largest single-month hike in the unemployment rate in Oregon in almost three decades.

David Cooke of the Oregon Employment Department says the biggest loss of jobs came in the manufacturing sector.

David Cooke:  “Wood products manufacturing was down a thousand jobs, computer and electronics product manufacturing was down 1200 jobs, and transportation equipment manufacturing was down 1500 jobs.”

The job figures are the first set of sobering numbers expected this week.  

State economists will release their quarterly revenue forecast on Wednesday.  

Oregon lawmakers expect the numbers will mean budget cuts will be front and center on their agendas when the Legislature reconvenes in January.

Online:

Oregon Unemployment Numbers