Oregon's Labor Force during the Great Recession
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The 2008 financial crisis following the collapse of the subprime mortgage market launched the greatest economic retraction in the United States since the Great Depression of the 1930s. The entire country experience a spike in unemployment from 4. 7% to 10.1 %. The crisis shifted from financial to personal when many Oregonians lost their jobs. In order to examine how Oregonians experienced the Great Recession, this thesis observes how Oregon 's industries expanded or contracted total employment between 2007 and 2010. I will discuss each ofOregon·s industries, as divided by the North American Industry Classification System. This reveals 70% of employment contraction in Oregon between 2007 and 20 I 0 belonged to the manufacturing, construction, and trade transportation and utilities industries.