PORTLAND, Ore. (KOIN) — Oregon’s unemployment rate dropped to 4.9% in August — the lowest rate since March 2020 when it was 3.6%, according to a new report by the Oregon Employment Department.
July 2021 saw 5.2% unemployment in the state, following a similar drop in unemployment nationwide — from 5.4% to 5.2%.
It is the third time since 1976 that Oregon unemployment has dropped below 5%, the report said.
According to the report, the only other two periods of time the state had below 5% were 14 consecutive months in the mid-1990s when unemployment was as low as 4.5%, and during the 51 consecutive months during 2016 through March 2020.
OED said some industries have recovered more than others, with the health care and social assistance sector still lacking 10,400 jobs since its February 2020 peak.