More and more people are going back to work in Oregon
according to today’s Bureau of Labor Statistics report. Oregon’s unemployment
rate fell .03% from October to November to 7.3%. That is a 1.1% drop from a
year ago.This is great news for the local housing market as more people can afford homes again. Meanwhile, businesses tied to the housing industry are hiring again to meet the demand of new homeowners. This scenario is being played out nationwide. Matt Ferguson, CEO of CareerBuilder, tells recruiter.com, “While some segments may still be trailing pre-recession employment levels and may not fully recover jobs lost, we’re seeing signs of a rebound in everything from construction and mortgage banking to home furnishing stores.”
The latest jobs report is just another sign that our economy is improving and a healthy housing market should continue to flourish in Portland despite rising interest rates.
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