New report, ‘The Re-Employment of Oregon,’ looks at state’s ‘remarkable turnaround’ after pandemic hit – KTVZ

SALEM, Ore. (KTVZ) — The pandemic recession introduced unparalleled job losses – in each pace and scale – to Oregon in March and April 2020. Two years later, the state’s labor market has skilled a exceptional turnaround, a brand new state Employment Division report mentioned Wednesday.

In response to the report, “The Re-Employment of Oregon”: 

• Oregon’s nonfarm payroll employers have regained 9 out of 10 jobs misplaced in spring 2020.
• Oregon’s unemployment charge is close to its all-time document low once more.
• The state’s labor power has additionally grown to new record-high ranges, and labor power participation has reached its highest charge in a decade.

As Oregon moved from excessive unemployment to fast re-employment, seven out of 10 pandemic recession unemployment claimants have been present in Oregon’s payroll information once more by winter 2022. Three out of 10 weren’t discovered working for a lined payroll employer 18 months after their job separation.

• The biggest share (36%) of claimants have been recalled to and nonetheless working for the employer that laid them off. Sectors with the very best charges of returning staff included schooling companies, public administration, and manufacturing.
• One other 12% took new jobs with totally different employers in the identical sector of the economic system.
• Sectors most definitely to have staff take new jobs with a unique employer of their sector included well being care and social help and leisure and hospitality.

As a cohort, pandemic recession unemployment claimants had higher re-employment charges than their counterparts laid off in non-recessionary instances. Pandemic recession claimants additionally stood aside by way of their post-layoff earnings. 

• By 18 months after their job separation, pandemic recession claimants have been extra prone to nonetheless be discovered working with a lined payroll employer and dealing in the identical sector of the economic system than unemployment claimants from the identical timeframe in 2016.
• Oregon’s pandemic recession unemployment claimants had stronger wage progress than their unemployed counterparts in an expansionary interval in 2016.
• The pandemic recession cohort additionally skilled higher wage acquire outcomes than all Oregon staff – unemployed or not – between the primary half of 2020 and the top of 2021.

Extra particulars can be found within the full report at QualityInfo.org.