Oregon’s unemployment rate fell to 4.9% in August, according to new data released Tuesday, an all-time low and the latest sign of state labor market tightening.
This is another significant drop in the unemployment rate and it continues an ongoing trend for workers to find jobs, said Gail Krumenauer, an economist in the Oregon Department of Employment.
Unemployment in Oregon fell from an all-time low of around 3.5% in the months leading up to the pandemic to 13.2% in April 2020, when COVID-19 hit. The state unemployment rate has rarely been below 5% in the 45 years for which Oregon has comparable records.
The unemployment rate now looks like other times in history when we had our strongest economic expansions, Krumenauer said on Tuesday.
Oregon has now recovered 72% of the jobs lost due to the pandemic. The state classifies 98,000 people as unemployed, up from 176,000 in August 2020.
The number of unemployed has declined due to a widespread labor shortage, which has squeezed employers statewide and helped raise wages. Wage gains have been particularly large recently in Oregon’s hospitality industry, where revenues have jumped 10% in the past year alone.
The delta variant of COVID-19 has alarmed economists, who fear Oregon’s unprecedented volume of infections and hospitalizations could slow the state’s recovery. But Oregon has not imposed new trade restrictions, and figures for August show hiring continued through the early stages of this most recent wave of infection.
As many as 80,000 unemployed Oregonians lost their unemployment benefits after Labor Day, the deadline for a number of federal assistance programs. That means a loss of about $ 60 million per week in aid to workers in Oregon.
Those who lost benefits included the self-employed, who do not contribute to the Unemployment Insurance trust fund but received assistance during the pandemic under temporary programs established by Congress. Last week’s benefit cliff also hit workers who had been unemployed for a long time but continued to receive help through pandemic assistance programs.
Economists believe the cut may push a small number of people back into the workforce, but believe it is unlikely to have a major impact. The number of Oregonians receiving unemployment benefits declined sharply throughout the year, even though expanded benefits were in place.
The mention sources can contact us to remove/changing this article
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]