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Viva_La_Revolution Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-13-09 11:23 PM
Original message
Oregon jobless rate spikes to over 12 percent
Source: AP

TUALATIN, Ore. (AP) — Oregon's jobless rate has taken a dramatic jump, to 12.1 percent — a rate seen only once before since the years after World War II.

The increase could put Oregon on a pace to have the highest unemployment rate in the nation when those figures are released on Friday, state labor economist Art Ayre said Monday.

Michigan currently has the highest rate, at 12 percent. Oregon's comparable figure from February, 10.7 percent, put it tied for third.

snip...

The department said Monday the statistics aren't exactly comparable, but it appears that 12.1 percent is the highest unemployment rate the state has recorded since the department first began publishing the statistics in 1947.




Read more: http://www.katu.com/news/local/42912342.html



:(

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OhioChick Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-13-09 11:34 PM
Response to Original message
1. Only to get worse....
Ohio is close to 10% now. I did come across an article the other day that stated that the unemployment rate nationwide is/close to 15.9%. I believe that every state's #'s are much higher, due to those who no longer are eligible for unemployment and haven't found jobs. Not good. :(
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Michigan-Arizona Donating Member (516 posts) Send PM | Profile | Ignore Tue Apr-14-09 01:13 AM
Response to Reply #1
4. How right you are!
I talked to a woman today that deal's with people's pension's & she to feels that Michigan is way past recession & is in a depression. In her circle of friend's she said most of them are without job's at the moment. I to think the number's are way higher than what we know or are being told.
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MichaelHarris Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-14-09 12:23 AM
Response to Original message
2. Didn't Bush say
that there were tons of EBay jobs?
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rollingrock Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-14-09 12:53 AM
Response to Original message
3. I hear there's plenty of job openings
in Iraq and Afghanistan.
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Left Coast2020 Donating Member (597 posts) Send PM | Profile | Ignore Tue Apr-14-09 02:40 AM
Response to Reply #3
5. I'm from Oregon. I'm stuck in Kali-fornya at the moment, but I would
like to go back up north to see my rivers before my time is up. I miss it.
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rollingrock Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-14-09 04:09 AM
Response to Reply #5
9. Enjoy your R&R
I can't imagine what it must be like being forced away from home and family and tossed back into that desert shithole/meatgrinder. So much more the 'change' President. How many tours is this for you? I wonder if the 'stop-loss' program started by Booshler is still in effect?
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roguevalley Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-14-09 02:29 PM
Response to Reply #5
15. you and me both. From Medford-Central Point area myself. My
beloved Rogue Valley, I love her.
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depakid Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-14-09 03:06 AM
Response to Original message
6. It would be interesting to see a county by county and sector by sector breakdown
Though one has to say, State Economist Tom Potiowsky hasn't got the greatest track record- so I take his projections (both positive and negative ones) with a grain of salt...

State economist forecasts recession's end
August 28, 2008

The downturn in Oregon's economy is not expected to grow worse but will continue into 2009, then begin a slow recovery in the second half of next year, state economists said Thursday. As a result, income tax payments are projected to fall $138 million short of previous predictions. That's not enough of a loss to require cuts in schools and other state services in the current two-year budget.

But legislators cringed when they learned it would leave the state only $24 million to add to the state's fledgling rainy day fund. That's far short of the $140 million they had planned to deposit there next year. "I would say that is a significant loss," Rep. Vicki Berger, R-Salem, said when economists explained the situation to the House Revenue Committee.

Thursday was the quarterly look at the economy and state revenues, which are made up mostly of personal income taxes.

State Economist Tom Potiowsky continued to assure lawmakers that this appears to be a shallow recession, unlike earlier turbulence that reduced income taxes by 20 percent and required five special sessions in 2002 for legislators to make enough cuts in programs.

Potiowsky also acknowledged, however, that this recession looks as if it will last longer than originally thought. The worst part would end in the first three months of 2009, followed by slow improvement.

That means Oregon will see less than 1 percent growth in employment this year and next -- and possibly even overall job losses.

More: http://www.oregonlive.com/news/index.ssf/2008/08/economists_say_downturn_to_con.html
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Delphinus Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-14-09 05:53 AM
Response to Reply #6
10. This (I think) is posted in the economy forum ...
but the economist needs to read Kuntsler's views on "recovery" and the recession's end:

http://jameshowardkunstler.typepad.com/clusterfuck_nation/

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depakid Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-14-09 06:16 AM
Response to Reply #10
11. Not to worry, Potiowsky's had his comeuppance
Edited on Tue Apr-14-09 06:22 AM by depakid
There's a broad sector breakdown in the Oregonian, but I'm guessing that the regional variations are (like California's) quite extreme.

There's also an odd matter of increases in the labor force:

Rapid growth of the state labor force is a trend particular to Oregon that captivates Potiowsky and other economists. Nonworking spouses and others are emerging from the woodwork to seek employment. Oregon's labor force gained 58,000 between March 2008 and March this year, while the state lost 77,000 jobs during those 12 months. That's a 3 percent increase in the labor force and a 4.2 percent decrease in employment.

"That is a sizable discrepancy that is contributing to the unemployment-rate increases," said Josh Lehner, an analyst at the Oregon Office of Economic Analysis. "Compare that to the U.S. overall, where the labor force increased 264,000 -- up 0.2 percent -- while employment declined 5.1 million -- down 3.5 percent."

State population growth, or in-migration, is not the main cause. "We're getting more and more households joining the labor force," Potiowsky said. "Even the 20-year-old that lives in the basement and watches TV all day is being asked to go out and work." Retirees who might have worked part time or not at all are ginning up resumes. "Folks that had retired are going, 'Oh my gosh, my 401(k) is gone,'" said Jerry Cohen, state director of AARP Oregon, a nonprofit with members 50 and older.

As Oregon's unemployment rate spirals, "You just start to wonder at what point do people start to leave" for other states, said Tim Duy, a University of Oregon economist. Duy, who publishes the UO Index of Economic Indicators, had thought until Monday that the state rate might top out around 13 percent, considered that scenario fairly pessimistic. With the latest jump, he's thinking more like 14 percent -- or even 15.

Mark McMullen, a Moody's Economy.com director in Lake Oswego, disagrees. "Our baseline outlook doesn't have it rising much higher than it is now," he said, "stopping just short of 13 percent." McMullen expects the labor force to stop growing as the high unemployment rate scares off potential job seekers. He sees "green shoots starting to show" in Oregon's economy, as tech firms attract investment and as Eugene, for example, ramps up public construction. "We expect Oregon to have a relatively strong recovery compared to other states," McMullen said.

More: http://www.oregonlive.com/news/index.ssf/2009/04/oregon_jobless_rate_hits_121_p.html


Also, as to your Kunstler link- I enjoy his material, even though he has a way with histrionics. For example, in the Long Emergency, one his drawbacks for living in the post peak oil Northwest was Asian pirates raid along the coast! LOL.

One should probably read him with a grain of salt.
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Viva_La_Revolution Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-14-09 11:38 AM
Response to Reply #6
13. hey kid!
Edited on Tue Apr-14-09 11:46 AM by Viva_La_Revolution
how ya been? :hug:

ps: here's the breakdown by county... http://www.qualityinfo.org/olmisj/AllRates?adjusted=n

Crook and Harney are at 20%, there are a few like Corvallis and Benton in the low 8's.
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starroute Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-14-09 11:41 AM
Response to Reply #6
14. The New York Times has a county by county map
It came out last month and is with figures from January -- but it gives a pretty good idea of how things break out. Oregon was already in worse shape than most states even then. You can also mouse-over to get precise figures by county.

http://www.nytimes.com/interactive/2009/03/03/us/20090303_LEONHARDT.html?ref=business

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travelingtypist Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-14-09 03:35 AM
Response to Original message
7. I am so glad I work at home..
I live just outside of Portland, but my money comes from Arizona,
New York, and Massachusetts. Whew.
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earth mom Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-14-09 04:00 AM
Response to Original message
8. I'm not surprised. Sad, but not surprised.
:(
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HughMoran Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Apr-14-09 07:29 AM
Response to Original message
12. I was dissapointed that my state jumped 1/2% to 6.2%
Amazing how much worse it is elsewhere in the nation.
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