Klamath Falls, ORE– The job market in the United States enjoyed record-low unemployment rates in much of 2022 and 2023 but has started the year off with declines especially here in Oregon.
According to recent data, there has been a noticeable increase in unemployment claims across the nation, with Oregon emerging as one of the states most affected by this trend.
Unemployment claims saw an increase of 4.2% between January 8 and January 22 indicating a cooling job market, with Oregon experiencing the second-highest increase in unemployment claims among all U.S. states with the distinction of having the most unemployment claims filed per 100,000 people in the labor force during this period.
But Oregon State Economist Joshua Lehner says the pattern of initial claims in Oregon at the start of the year mirrors trends seen in recent years with an uptick early on in the year but leveling out as the year progresses.
He says that while there is an uptick it’s not spiraling out of control with the U.S. Bureau of Labor Statistics Civilian Unemployment Rates remaining near all-time lows.