Oregon mass layoffs approach Great Recession levels
6 hours ago
- #layoffs
- #Oregon economy
- #job market
- Oregon employers have reported over 11,000 layoffs since the start of last year.
- Layoffs average over 600 per month in 2024, comparable to Great Recession levels.
- Current unemployment is 5%, indicating many laid-off workers find new jobs quickly.
- Intel accounts for a third of Oregon's layoffs, cutting 3,700 jobs in 2024.
- Other major layoffs include Wells Fargo (872), Nike (740), and OHSU (439).
- WARN Act requires 60-day notice for large layoffs, but enforcement is inconsistent.
- Recent layoffs are below pandemic peaks but highlight economic struggles in key sectors.
- Manufacturing, construction, and hospitality sectors are particularly weak.
- National job market shows signs of cooling, with unemployment rising to 4.3%.