State jobless rate holds steady in July

PORTLAND — The unemployment rate in Oregon did not change much last month, possibly indicating the recession has finally hit bottom.

The seasonally adjusted unemployment rate for Oregon in July was 11.9 percent in July, nearly unchanged from a revised June figure of 12 percent.

The jobless rate in Oregon has been close to 12 percent for the five-month period from March through July, following a steep increase during the previous nine months.

In July 2008, the statewide unemployment rate was 6.3 percent — about half the rate last month. The national jobless rate also stayed about the same for July, 9.4 percent compared to 9.5 percent in June.

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