Rejoice, job seekers.
The Oregon unemployment rate hit 3.7 percent in December—the lowest in at least 44 years.
"The latest estimates suggest there are fewer unemployed Oregonians now than at any point since 1976, when comparable records begin," said Nick Beleiciks, Systems and Economic Analysis manager at the Oregon Employment Department. "That's especially striking considering Oregon's labor force is twice as large as it was 44 years ago."
The number of people who were unemployed for less than half a year was the lowest in at least 18 years. The number of people who had been laid off and therefore unemployed was the lowest in 20 years. And people who weren't fully employed but working part-time and still looking for something more —the labor underutilization, the "U-6″— also hit a new low since state started tallying that.
According to the press release, the only broad industry sectors in Oregon to cut jobs in 2019 were retail trade (-700 jobs, or -0.3%) and mining and logging (-300 jobs, or -4.2%).