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.