State unemployment rate at 9.6 percent for August - KPTV - FOX 12

State unemployment rate at 9.6 percent for August

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PORTLAND, OR (KPTV) -

Oregon's unemployment rate remains above well above 9 percent, and both employment and index numbers are reflecting weakness in the state's economy.

The State Employment Department reported Tuesday that the unemployment rate was 9.6 percent for August. Statistically, that's essentially unchanged from the month before.

But the agency says it's revised July employment numbers to show a drop of 3,300 jobs instead of a gain of 300. It said the July figures were a result of government job cuts.

The University of Oregon's index of economic indicators, reported Monday, dropped in July for the fourth month in a row. Professor Tim Duy says the index doesn't reflect a recession, but it does show fragility.


(Copyright 2011 by The Associated Press.  All Rights Reserved.)

 

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