Today’s Clips: Is underemployment the new unemployment?

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The latest jobs report shows that Oregon’s unemployment has declined to 7.3 percent, which is the lowest in five years. However, another 7.3 percent are underemployed (meaning workers who can only find part time work and wish they could get a full-time job).

Corporations are raking in bigger profits than ever as 2013 comes to a close, but workers are still fighting to have jobs that pay a fair wage. The recovery hasn’t happened yet for most Oregonians.

As many Oregonians underemployed as unemployed in latest state jobs report
“The year is winding down, job growth is ramping up, and, still, a quarter of a million Oregonians are stuck in part-time jobs or without work at all. A new report shows Oregon’s economic recovery gained momentum this fall, picking up an estimated 5,400 jobs last month alone, after adjusting for seasonal factors. Unemployment, meanwhile, has declined from 8.1 percent in August to 7.3 percent in November, a new five-year low. But a seasonally adjusted 139,800 people were unemployed in November, and just as many workers were underemployed — working part-time jobs but wishing they could get full-time ones.”

Oregon unemployment drops to 7.3 percent
AP via OPB News
“Oregon’s jobless rate has fallen to its lowest point in more than five years as employers have begun to expand payrolls to match economic expansion. The Oregon Employment Department said Tuesday the unemployment rate for November was 7.3 percent. It was 7.6 percent the month before. The department said federal estimates show the state added 5,400 nonfarm payroll jobs in November, on a seasonally adjusted basis.”


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