>Brookings Oregon News, Sports, & Weather | The Curry Coastal Pilot

News Classifieds Web
web powered by Web Search Powered by Google

News arrow News arrow Business arrow CURRY JOBLESS RATE DECLINES IN MAY

Print

CURRY JOBLESS RATE DECLINES IN MAY

GOLD BEACH Curry Countys unemployment rate dropped more than a percentage point in May to 5.3 percent.

The rate is down from the 6.4 percent reported in April, which was the same rate reported in May 1999, said officials from the Oregon Employment Department.

Curry County followed the state with declining unemployment, officials said. On a different note, Coos County did not follow the state trends. Its rate rose slightly from 6.5 percent to 6.6 percent in May. The rate, however, is lower than the 7.8 percent reported in May 1999. The nations rate also rose.

Oregons South Coast non-farm employment increased substantially in May, officials said. Coos Countys employment estimate rose by 410. Curry County gained 320 jobs.

Manufacturing employment increased by 20 in Coos and 10 in Curry County. Curry County logging employment was a little less than seasonal average, while lumber and wood products employment remained stable. A gain of 30 in Coos County lumber and wood products employment was countered by a loss of 20 in food products manufacturing, officials said.

Coos County non-manufacturing employment increased by 400 in May, boosted by nearly 100 temporary census workers. Seasonal increases in eating and drinking places, along with hotels and lodges contributed to the employment gains, officials said. Miscellaneous retail employment increased by 40.

Curry County non-manufacturing jobs increased by 300, with nearly 80 census workers added for the month. Seasonal employment increases in tourism related industries such as eating and drinking places and lodging places accounted for most of the increase.

The department reports that 8,000 were employed out of a labor force of 8,450 in Curry County. The county gained 200 on it labor force and lost 80 on its unemployment roles.

Statewide the rate was reported at 4.5 percent, down from 4.7 percent. The department reports 81,400 unemployed out of a labor force of 1.81 million.

The highest unemployment rate in the state was 14.8 percent in Morrow County. It was one of two counties reporting double-digit rates. The other county, Grant, reported 11.2 percent.

Benton County, with an unemployment rate of 2 percent, was the lowest, officials said.

Nationwide, the rate climbed 0.2 percent to 3.9 percent in May. Its labor force was reported at 140.39 million. Officials said there were 5.43 million unemployed.

Print

Business News by Yahoo Finance

  • Look to energy names for global demand clues
    Profit growth expectations for S&P 500 energy companies have fallen more than any other sector - from a forecast of 13.8 percent on July 1 to the current 1.8 percent, Thomson Reuters data showed. With various names due to report next week, including Exxon Mobil (XOM.N), Chevron (CVX.N), ConocoPhillips (COP.N) and National Oilwell Varco (NOV.N), there are hopes that executives will suggest that the fall in oil and share prices has overstated the outlook for these names. The energy sector over the last 20 weeks has spiraled from being the market leader to now ranking as its most distant laggard, according to a Relative Rotation Graph study, which analyzes the relative performance of the constituents of an index. The S&P energy sector up about 6 percent from Oct. 15, while the S&P 500 is up 5.5 percent from its Oct. 15 low and the benchmark index on Friday posted its best weekly gain since early January 2013.
  • Fannie Mae settles shareholder lawsuit for $170 million
    Fannie Mae has reached a $170 million settlement of a lawsuit accusing it of misleading shareholders about its finances, risk management and mortgage exposure before it was seized by the U.S. government ...
  • Exclusive: Ford to overhaul Lincoln brand, this time with big bucks
    Ford Motor Co's (F.N) new chief executive, Mark Fields, is giving the automaker's long-moribund Lincoln brand what his predecessor Alan Mulally never could: a little love and a lot of cash. Lincoln, a storied Detroit brand which Ford has owned since 1922, has been in a swoon for the past two decades, leaving dealers and customers wondering if Ford management had left the brand for dead. Now, with the renewed backing of Executive Chairman Bill Ford and the company's board, Fields has committed the automaker to a multiyear, multibillion-dollar overhaul of Lincoln that includes a significant investment in a new premium vehicle platform that will underpin several future Lincoln vehicles, four sources told Reuters. Ford could spend $5 billion or more over the next five years to revive Lincoln, revamp its product portfolio and reposition it as a true competitor to such global luxury leaders as Daimler AG's (DAIGn.DE) Mercedes-Benz and BMW AG (BMWG.DE), the sources said.

Follow Curry Coastal Pilot headlines on Follow Curry Coastal Pilot headlines on Twitter

© Copyright 2001 - 2014 Western Communications, Inc. All rights reserved. By Using this site you agree to our Terms of Use