Wednesday, May 20, 2009

Prediction: The Bottom's Still a Long Way Off

Oregon still has the second-highest unemployment rate in the US, but some see a silver lining in the fact that at least the rate didn't

Posted By on Wed, May 20, 2009 at 9:56 AM

Oregon still has the second-highest unemployment rate in the US, but some see a silver lining in the fact that at least the rate didn't rise in April - it stayed at 12%, the same as in March.


The Oregon Center for Public Policy, though, has found a cloud behind the silver lining behind the cloud. Looking at the ratio of Oregon workers to available jobs, the center calculates that our employment picture is worse now than it was six years ago, and is likely to remain bleak "well into the next decade."

An analysis of state employment numbers released last week "shows that there are fewer jobs for working-age Oregonians than in the worst year of the previous recession, which was 2003," the OCPP says in a press release. "The analysis ... also shows that the ratio of jobs to workers will not surpass the 2003 low point until 2015."

According to the OCPP's calculations, there presently are 67.2 nonfarm payroll jobs in Oregon for every 100 working-age Oregonians, compared to 70.2 jobs for every 100 in 2003.

And OCPP analyst Michael Leachman said things are likely to get worse before they get better: In 2010, the ratio is expected to fall to 65.7 jobs per 100 workers.

Leachman said the scarcity of private-sector jobs is an argument for "public investments [to] preserve and create jobs in the short term and bring matching federal dollars into the state economy. In the long term, they help lay the foundations for future growth."

  • Pin It
    Favorite

Comments

Showing 1-1 of 1

Add a comment

 
Subscribe to this thread:
Showing 1-1 of 1

Add a comment

More by The Source Staff

Latest in The Wandering Eye

  • Moonshine Magic in Bend Still on the Down Low

    Get ready for our great close-up on the home distilling community out next week in our "Best of" issue. We interviewed a mixed bag of legal and anarchist distillers in Bend to find out why distilling is so very, very against the law in one's home.
    • Aug 9, 2012
  • The Eye Wanders Off Into the Sunset

    I’m really sorry to break the bad news to them during this season of peace and goodwill, but after this week the right-wingers in Bend and vicinity won’t have The Wandering Eye to kick around anymore. The decision to stop writing this blog was my own, and it was prompted by several factors.
    • Dec 26, 2010
  • DADT, Gay-Bashing and the "Icky-ness" Factor

    For the past week or so, “Zeo” of the NW Republican blog has had his jock strap in a knot over the prospect of Congress repealing the military’s “Don’t Ask Don’t Tell” rule. To hear Zeo tell it, if DADT is repealed and gays are allowed to serve openly in the US military it will mean the end not only of our armed forces but of America, its economic system and civilization in general.
    • Dec 19, 2010
  • More »

© 2016 LAY IT OUT INC | 704 NW GEORGIA, BEND, OREGON 97703  |   Privacy Policy

Website powered by Foundation