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Oregon economy stuck in neutral

July 21, 2011

By Patrick Emerson
Oregon Economics Blog

The Oregon employment picture looks a lot like the national one which is essentially stuck in neutral (oh, how many metaphors am I going to have to use?). The unemployment rate is basically the same at 9.4% but the real information is in the jobs number which is at plus 800 for June. As the employment department report notes, the Oregon economy has essentially added no net jobs since February. Ouch.

The nice gains in private sector job growth in professional and business services (+1,200 jobs), educational and health services (+2,200), and leisure and hospitality (+4,400), were counter weighted by losses in government (‐2,900 jobs), manufacturing (‐2,000), and trade, transportation and utilities (‐1,800). The government number shows the anti-stimulus effects of state government cutting sharply right when the economy is trying to get a little momentum.

It is a little tiring trying to think of something new to say each month as each month is the same basic story: tiny glimmers of a recovery, but not enough to provide any light.

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Bob Clark July 21, 2011

The owner’s manual for the economy should say apply deregulation when gear shift is stuck in neutral. Unfortunately show boat Bama threw out the owner’s manual, and is trying to add even more bureaucratic regulation.

Just look at the nation’s energy policies. We aren’t going anywhere as long as the price of oil approaches and exceeds $100 per barrel. But instead of unleashing still plentiful domestic oil and other energy resources through federal leasing and freezing of EPA regulations, Bama pushes regulation and borrows heavily for over priced energy sources which can’t deliver in mass quantity.

Hoping, Bama is a one termer. “Hope and Change” has long left this building.

Kevin Yates July 21, 2011

Oregon can do better.

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