Jobless Rate Soars to ’80s Peak

Oregon’s unemployment rate surged to 12.1% in March, matching the peak reached in November 1982. That’s the highest rate recorded since the state began keeping records in 1947.

The jobless rate has more than doubled in the past nine months, rising from 5.9% in June 2008, according to the Oregon Employment Department. The state’s jobless rate for March was 3.6 percentage points higher than the national rate of 8.5%.

“The employment statistics released today are staggering,” said Gov. Ted Kulongoski in a release. “While national economists are noting positive signs, today’s numbers also tell us that we have entered uncharted territory — that this recession is not comparable to the recessions before that we remember or read about in history books.”

Oregon lost 14,000 payroll jobs in March. Five of the state’s seven largest private-sector industries posted “substantial” job losses, the Employment Department said. No major industry gained a substantial number jobs.

The state has lost 91,400 job in the past year. The biggest declines have come in the trade, transport and utilities industry, followed by manufacturing and construction. Only government, healthcare and education — have added jobs in the past year.

With employment opportunities shrinking and the labor force continuing to grow, the number of jobless workers has doubled in the past 12 months, jumping to 256,400 in March from 115,600 a year earlier.

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