Oregon employment outlook grim

According to the State Office of Economic Analysis’s(OEA) review of employment as of August 2010, employment in the state has been declining for two and a half years:

“On a monthly basis, Oregon employment peaked in February 2008 and has declined in 26 of the 30 months since. Total job loss since peak employment is 142,700 through August 2010, or 8.21 percent.”

The OEA projects that a return to the number of jobs equivalent to the peak in 2008 could take as much as four more years, as shown in the chart shown below drawn from the state website:

This would seem to imply reduced levels of in-migration, but net out-migration similar to that which took place in the early 1980’s seems unlikely.

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1 Comment »

  1. […] be at least partially attributed to the high number of unemployed residents. Between 2007 and 2009, the number of unemployed Oregonians increased 120 percent – the 12th fastest increase in the […]

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