Unemployment Near You (CORRECTED)

Current Events Jun 05, 2009

[NOTE: The original post incorrectly stated the new National unemployment rate was 8.9, when in fact it is 9.4. The section has been updated]

The Bureau of Labor Statistics released their annual report of employment/unemployment by metropolitan area. These numbers are a day old but worth noting:

Oregon …………………………………………..12.1
Bend ………………………………………….. 15.6
Corvallis ……………………………………… 8.6
Eugene-Springfield ………………………. 13.0
Medford …………………………………….. 13.9
Portland-Vancouver-Beaverton ……. 11.6
Salem ………………………………………… 11.8

That puts the Beaver State in second place for worst unemployment just behind Michigan who has managed to squeak out the lead with 12.9%, a lead they earned by almost doubling their unemployment from 7% in April of 2008.

But before you think Michigan’s coming out party was a major shift, you should know that in the same period of time, Oregon managed it’s leap from 5% to the current 12.1% a number she hasn’t seen since 1982. So while Michigan may get the prize for having highest percentage of folks tuning into daytime TV, Oregon flosses “Greatest Percentage Increase”

Congratulations, Oregon, my Oregon!

I’d also like to give a shout-out to our jobless friends in metropolitan area of El Centro, California who handed the BLS bean counters a 26.9% unemployment rate. Of course, El Centro is home to 42,002 people. You do the math.

In the “Over 1 Million People” catagory, Michigan and Californian areas are clawing their way to the top of economic failure. Riverside-San Bernardino-Ontario (California) boasted a whopping 12.6%. While dramatic, it wasn’t enough to bump Michigan’s Detroit-Warren-Livonia’s 13.6%

On the national scene, the unemployment rate is currently 9.4% –that’s up from April’s 8.9%

For those of you who are wondering, the last time we saw 9.4% was July 1983. I should mention that during the height of the great depression the unemployment rate was was 24.9%

On a related note, unemployment and education are always an interesting correlation (numbers are for those 25 years or older):

Less than high school: 14.8%
High school, no college: 9.3%
Some college or Associates: 7.4%
Bachelor’s degree or higher: 4.4%

What’s interesting about these numbers is how they compare to the numbers published in May:

Less than Highschool: 13.3%
Highschool, no college: 9.0%
Some college or Associates: 7.2%
Bachelor’s or higher: 4.3%

Have a great weekend!

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