Oregon Unemployment Rate Reaches Record Height

July 13th, 2009 - 6:39 pm ICT by GD  

oregonIt seems that recession is a rising menace as it continues to be the most potent threat to the world and U.S. economies.

As a result the unemployment rates in many of the major states in the U.S. is on a rise bringing more trouble to the citizens day by day. After the rising unemployment rates in the states like Ohio and South Carolina, another state namely Oregon has been facing the crisis of joblessness as the unemployment rate has reached a record height there. According to the reports of the Oregon Unemployment Department, this rate has risen to 12.4 percent in May. In April the rate had reached a height of 11.8 percent. This is a record since the current series began in the year 1972. The last highest rate reached in November 1982 when the mark was of 12.1 percent.

The statistics are quite worrying as in May this year 240,615 people have been unemployed which is a greater rate compared to that of 2008’s rate when the 103,441 people were jobless. Between October last year to March this year a very rapid monthly increase in unemployment rate has been noted which is recorded as 7.2 percent. If we go by the rate noted in each month in this time period then one can find that unemployment rate has risen by an average of nearly a full percentage point.

In comparison to other states like Indiana and South Carolina, the record rise in joblessness has indeed left the Oregonians in a much worrying state.

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