Oregon and Arkansas were at all-time lows in terms of unemployment level in April, according to Labor Department records.
This is significant because no state had recorded a record low in terms of joblessness since 2008. The Labor Department’s records for unemployment reach back to 1976.
Oregon was shown to stand at a 4.5 percent rate, while Arkansas stood at a 3.9 percent rate. Both rates stood below the unemployment rate of five percent for the entire United States.
Economists warn, however, that the rates of unemployment reported in April may be revised — this often happens months, and even years, into the future. While the general trends of unemployment lessening seem to be accurate in the two respective states, the rate at which it is decreasing may be slightly exaggerated.
One sign that Arkansas’ results may be exaggerated lies in the fact that nonfarm payrolls, generally a more accurate barometer of true unemployment, fell by 0.2 from January to April. Conversely, Oregon’s nonfarm payrolls grew by 1.4 percent during this same period of time.
Despite possible revisability, most see the statistics to be a great sign of the improving economy. Arkansas, for its part, saw its unemployment rate drop by half a percent from the beginning of the year April, while Oregon saw a 0.6 percent drop over the same period of time.
State-level unemployment figures for the month of May are expected to be released on June 17th.
