Oregon Unemployment Rate, May 20

Oregon’s unemployment rate declined to 5.2 percent in April from 5.4 percent in March, reaching Oregon’s lowest rate since July 2007 when the rate was also 5.2 percent. The rate is now back to where it was during 2006 through early 2008 when Oregon’s rate held steady between 5.0 and 5.5 percent. Oregon’s payroll employment grew rapidly, adding 7,600 in April, following revised gains of 2,600 in February and 2,700 in March. April’s gain was on track with the rapid growth seen during September 2014 through January 2015 when growth averaged 6,200 jobs per month. The recent, rapid job growth is consistent with Oregon’s performance prior to the recession. Jobs expanded by 3.2 percent between April 2014 and April 2015, a similar pace as seen during mid 2004 through 2006 when Oregon’s annual gains averaged 3.0 percent.