Portland unemployment falls

Portland unemployment falls

Portland-area unemployment fell to its lowest point in five years despite slowed hiring.

The seven-county metro area lost a seasonally adjusted 3,000 jobs in October, according to state estimates released today. Unemployment, meanwhile, dropped to 6.9 percent, down from 7.1 percent in September.

The trends are based on two different data sets -- one a survey of households, and the other a survey of businesses -- and sometimes conflict from month to month.

The household survey turned up the region's lowest seasonally adjusted unemployment rate since September 2008, the dawn of the Great Recession. Unemployment was 7.1 percent then, and quickly shot up to 7.8 percent the next month. By February 2009, joblessness topped 11 percent, and stayed there for nearly a year.

Read more at OregonLive.com.