The Oregon unemployment rate dropped to 6.3% on Tuesday, the lowest unemployment rate in the nation, as new data showed a record number of people were jobless.
The unemployment rate also fell to 6,100, down from 6,300 in February.
The rate was down 0.1 percentage points from March.
The Oregon Department of Labor said the drop in unemployment came as the state recovered from a brutal drought and is working to get the economy back on track.
“We’re excited to see our numbers drop to the lowest rate in a decade,” said Scott Hulbert, Oregon’s chief economist.
The state’s unemployment rate fell to 8.8% in January from 9.3%.
“We believe the economy will recover, and we believe the jobless rate will return to the level that existed before the drought,” he said.
The number of workers with jobs dropped by 2,500, or 0.6%.
That means more than 4.1 million people are out of work.
The drop was mainly due to a drop in the number of jobless workers.
The decline in the labor force also meant fewer people in the workforce, which is good news for businesses.
The labor force participation rate, a measure of how many people are in the work force, dropped from 62.8%, the lowest level since February 2007.
The jobless count also dropped.
“The drop in jobless is a positive sign for the economy, but it’s also an important reminder that we’re still in an economic downturn,” said David Neumark, a senior economist at the University of Michigan.
The Bureau of Labor Statistics said the unemployment rate rose to 6% in May.
That was the highest jobless jobless figure since April 2016.
“There’s been a lot of progress made since then, but the unemployment has not been falling,” said Paul Ashworth, director of the Bureau of Economic Analysis.
“It’s not going to stay this low forever.”
The Labor Department says Oregon is the 10th state with a unemployment rate below 6%.
The job growth in Oregon is not keeping pace with the rest of the country.
The national unemployment rate is 6.8%.
“The national jobless increase is expected to be about 0.7% this year and 1.3 percent next year, based on data from the Bureau for Economic Analysis, a Washington-based agency that monitors economic developments,” the Washington Post said in a report last week.
The US economy added more than 230,000 jobs in May, the strongest monthly job growth since December 2007, according to the Labor Department.
In a blog post, Ashworth said it was “important to remember that this rate is just one indicator of the strength of the labor market and does not tell us the full picture.”