Oregon’s seasonally adjusted unemployment rate in October dropped slightly to 8.6 percent from 8.7 percent. But a new read on what happened in September was perhaps the most significant item in the latest economic report on the state.
In September, the initial estimate for seasonally adjusted nonfarm payroll employment — showing a loss of 7,900 jobs — was far off target, state officials said. A revised estimate released Wednesday shows a loss of 800 Oregon jobs in September.
State officials blamed a forecasting model used by federal economists for overstating September job losses.