Economy
The following is a summary of findings from our latest report. For more details, read the full report, or get the top takeaways from the report in the podcast. Paid Leave Oregon will provide paid leave time for parents bonding with new children, serious health conditions experienced by workers or their families, or those needing safe leave. While…
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Oregon exports have grown quickly over the past four to five years. In fact, while the state experienced recession at the onset of the COVID-19 pandemic, we saw exports out of the state accelerate. Much of this acceleration was due to the high demand for semiconductors the past several years, which is one of Oregon’s…
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Leisure and hospitality businesses employed 198,200 workers on average in 2022, up from 162,200 workers in 2020. Of those, roughly one out of nine jobs were in accommodations, slightly less than in arts, entertainment, and recreation where about one in eight leisure and hospitality industry jobs were. About three-fourths of leisure and hospitality workers worked…
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Preliminary data for 2022 from a Dean Runyan Associates study for the Oregon Tourism Commission shows that total direct travel spending in Oregon rose 23.2% in 2022 compared with the 2021 figure. Travel spending rose from $11.0 billion in 2021 to $13.9 billion in 2022 and was $1.1 billion above the pre-pandemic 2019 level. Travel…
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by Amy Vander Vliet Oregon Regional Economist July 11, 2023 Inflation is slowing, wages are rising, and job growth remains strong. For these reasons, the Oregon Office of Economic Analysis (OEA) believes we will avoid a recession in the near term. However, we’re not out of the woods yet. Inflation remains well above the Federal Reserve’s…
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We live in a data rich world where much of our life is measured, ranked, and quantified. If you have kids, you know that one of the first things the doctors and nurses do in the hospital after the birth of your child is to measure their weight and length. To provide context to those…
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The Oregon Economic Development Agency (OEDA) has launched a new program to help boost rural businesses across the state. The program, called the Rural Business Development Program, is aimed at providing funding and support to small businesses in rural communities that have been hit hard by the economic challenges of the past few years. The…
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CORVALLIS— In a small laboratory on HP’s Corvallis campus, a group of Oregon State University graduates are producing a chemical that will make semiconductor chips smaller, lighter and more efficient to produce. The company, Inpria, was born out of an Oregon State University professor’s research group about 15 years ago. Now, it has 60 employees,…
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The risk of a recession, at least in the near term, has lessened in recent months as inflation has slowed. Yet inflation is still well above the Federal Reserve’s target rate, and the nation remains in the midst of an inflationary economic boom. At this point in the economic cycle, it’s unclear whether the Fed…
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EXECUTIVE SUMMARY March 2023 Either the economic storm clouds have parted, or we are in the eye of the hurricane. Any near-term recession fears are fading with each month of somewhat lower inflation and the continued economic boom. However, the Federal Reserve must still navigate the choppy waters of a tight labor market, fast wage…
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The private-sector computer systems design industry lost 500 jobs (-3%) during the pandemic recession. Although that is a significant loss of jobs, it pales in comparison to job losses during the high-tech recession of 2001 when Oregon’s computer system design industry shed 3,500 jobs from 2000 to 2003, 30% of its workforce. On the good…
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Business Oregon is now accepting applications for the new Business Oregon Venture (BOV) Fund Program under the State Small Business Credit Initiative (SSBCI) program. Due to the nature of the venture capital industry and SSBCI program guidelines, Business Oregon will be accepting and reviewing BOV Fund Program applications on a rolling basis. The first deadline…
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