Oregon Economy Current Overview

SALEM,Ore… Josh Lehner an Oregon Economist made a presentation in front of the Westside Economic Alliance today.  He comments the state is working it’s way out of a deep hole.  We are still in recession mode.  Progress moving toward recovery is slow but steady. The new wave of closures may change things once again.  minimizing those would create a better economic climate.  Federal aide can help hurting businesses.  Currently about 250,000 Oregonians are receiving some kind of unemployment .  50,000 jobs are at risk.

Lehner says, “With restaurants and bars only offering take out for 2 weeks and Multnomah county for 4 weeks lottery revenue will take a big dip near 30 million dollars . ”  Personal spending is down but savings is up. Partially because we’re not traveling and making large purchases.  National estimates indicate 1.5 Trillion dollars has made it’s way to savings accounts.