Oregon’s 3.5% unemployment rate has tracked very closely with the national unemployment rate for the past two years, with both rates declining rapidly during May 2020 through early 2022 as the economies recovered.

State Job Report

The Oregon Employment Department reports 87,337 unemployed and 2,124,045 employed in July.

Over the past five months, unemployment rates for the U.S. and Oregon have averaged 3.6%, near record lows dating back almost 50 years.

The labor market is tight, and many people have gotten back to work. Over the past two years, Oregon’s labor force participation rate rose rapidly.

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