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Economic Indicators
Record Initial Claims for Unemployment Benefits Continue in Oregon
During the week starting March 22, the Oregon Employment Department received 92,700 initial claims for Unemployment Insurance benefits. That represented a 21 percent increase from the previous record during the week starting March 15. By comparison, the agency received 4,900 initial claim filings during the week starting March 8. The Employment Department continues to take proactive steps to meet
Read MoreCensus 2020: Who Gets Counted and How It Benefits Your Community
It is time for the U.S. Census Bureau to count everyone in efforts to allocate hundreds of billions of dollars in federal funding. The data collected from the Census will benefit local residents, businesses, real estate developers and planners, and help local governments understand the needs of their local communities.Who Gets Counted?
Everyone living in the United States will be counted,
February Employment and Unemployment in Oregon’s Counties
The Oregon Employment Department is releasing employment and labor force data for the month of February today. These numbers will not capture any of the economic impacts of COVID-19. Our employment and labor force data will capture current COVID-19 events in the April data to be released in May. The most current labor force data we are able to publish are initial claims for unemployment data.
Read MoreUniversity of Oregon Economic Indicators – Crisis Update 3/30/20
A few items for you consideration this morning: 1.) My column at Bloomberg from last week: The Federal Reserve has taken unprecedented steps in recent weeks to cushion the U.S. economy from the effects of the expanding coronavirus pandemic, including… Continue Reading →
Read MoreUniversity of Oregon Economic Indicators – Crisis Update 3/27/20
Crisis Update – March 27, 2020 The economy is currently experiencing the impact of a sudden stop of economic activity. While we will continue issuing our usual monthly reports as data allows (some local level data will be delayed as… Continue Reading →
Read MoreRecord Initial Claims for Unemployment Benefits in Oregon
During the week of March 15, the Oregon Employment Department received more than 76,500 initial claims for Unemployment Insurance benefits. During the first three days of the week of March 22, initial claims have been tracking at record levels again. This comes as a sharp increase from 4,900 initial claims filed during the week of March 8. The Employment Department is taking several measures to
Read MoreInitial Unemployment Insurance Claims Filed in Oregon Rose from 800 on Sunday, March 15 to 18,500 on Tuesday, March 17, 2020
Economic Impacts
The number of initial Unemployment Insurance claims filed in Oregon rose from approximately 800 on Sunday, March 15 to a total of 18,500 on Tuesday, March 17, 2020. Although we know the COVID-19 coronavirus is causing a reduction in economic activity both nationally and in Oregon, it’s too early for unemployment rate or payroll jobs numbers to show the impact of these
Read MoreThe Employment Department Releases Oregon’s February Unemployment Rate
Oregon’s unemployment rate was 3.3 percent in both January and February, the lowest on comparable records dating back to 1976. The U.S. unemployment rate was 3.5 percent in February.
“It’s too early to have data showing the employment impact, but the response to COVID-19 is causing a reduction in economic activity both nationally and in Oregon. It will be weeks before we can accurately quantify
Read MoreAre We In a Recession?
From the Portland Business Journal: University of Oregon economics professor Tim Duy is a frequent commenter on economic policy. As the coronavirus outbreak fuels more ecomic damage and stock market gyrations, he spoke with the Business Journal by phone about… Continue Reading →
Read MoreUpdate On Federal Reserve Actions
Crossposted with Tim Duy’s Fed Watch In an effort to keep financial markets from spiraling out of control, the Federal Reserve came out with the big guns Sunday afternoon.This will not prevent the economic downturn that is already upon us.… Continue Reading →
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