January 15, 2018 --
The Labor Market Will Remain Tight
by Josh Lehner
Oregon Office of Economic Analysis
The labor market is tight. Difficulty finding (and retaining) workers is the biggest challenge many businesses face today. Whether or not the economy is truly at full employment is largely an academic issue*. In practice, we’re essentially there. This is especially true in Oregon relative to much of the country. However, that also does not mean the labor market cannot get tighter, or it cannot become more challenging to find workers. Furthermore, the tight labor market is expected to remain until the next recession hits and the cycle starts anew. That said, the tight market today is really the result of two different, and independent cycles coming to a head.
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