Oregon unemployment rate drops to 4.9%

SALEM, Ore. (AP) — The unemployment rate in Oregon’s dropped to 4.9% in August — the lowest rate since March 2020 when it was 3.6%. The Oregon Employment Department reports July 2021 saw 5.2% unemployment in the state, following a similar drop in unemployment nationwide — from 5.4% to 5.2%. KOIN reports it is the third time since 1976 that Oregon unemployment has dropped below 5%. According to data from the state, the only other two periods of time Oregon had below 5% were 14 consecutive months in the mid-1990s when unemployment was as low as 4.5%, and during the 51 consecutive months during 2016 through March 2020.