700,000 was the number I was expecting in terms of job losses, so 651,000 is better than I expected, but still absolutely horrible. US unemployment at 8.1% - given this, I would not be surprised to see Oregon's February unemployment at about 10.8%.

This is scary, scary stuff. The point is that we need not only to reverse the job losses to start seeing unemployment go down, but to actually start creating a substantial number of new jobs, and we are so far away from that it is hard to see when we will reverse the downward trend in unemployment.
Oregon's Unemployment rates rise
http://oregonecon.blogspot.com –
