By Oregon Biz Report,
Are economic woes finally behind us?
There may be light at the end of the tunnel of economic recession based on responses to a June BusinessWeek survey of 179 US companies. Key findings include:
• 37% will reverse hiring freezes in the next six months
• 62% will reverse hiring freezes within a year
• 70% will end bans on raises within a year
Oregon also may be showing some signs of improvement according to the University of Oregon Economic Indicators:
• Initial unemployment claims have edged down well below the peak in December as the pace of economic deterioration has slowed.
• Although payroll fell in May, it was at a lower rate than in previous months.
• Nonfarm payroll fell by 100 jobs in May, which was an abrupt slowing compared to recent declines.
• New orders for non-defense non-aircraft capital goods rose in May to the highest level since December, indicating the worst declines in business spending are behind us.