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Unemployment's toll on Portland's economy lessens

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Friday, October 19, 2012

Unemployment is taking less of a toll on Portland's economy, but it still weighs on growth in Central Oregon, the Rogue Valley and Salem.

But the jobless rate is now a "minimal drag" in Portland, U of O economist Tim Duy said in a written statement about the monthly data. The metro area's jobless rate in August was 8.1 percent and has remained near that mark for much of the year.

The measures track a region's average growth rate since 1998. Portland and Eugene economies are now expanding at about that pace, while growth in Central Oregon, the Rogue Valley and Salem remains below the mark.

Read more at OregonLive.com.

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