slides: Oregon Employment Closes-in on Pre Recession Levels

Saturday, November 15, 2014

Taya Alami, GoLocalPDX Reporter

The Oregon economy has added approximately 41,600 jobs in past twelve months, a 2.5 percent increase over the year before. // Photo Credit: iStock

The Great Recession may be officially over in Oregon, according to the state's recently released quarterly economic and revenue forcecast.

The state economy has added approximately 41,600 jobs in past twelve months, a 2.5 percent increase over the year before.

The report stated, “large job gains indicate that progress is being made in terms of regaining the recessionary lost ground. Oregon is likely a few months away from reaching its pre-recession peak employment levels.”

Although economic growth isn’t matching pre-recession levels quite yet, the state expects it it to if growth rates to hold.

“Even as job growth is strong, the number of Oregonians looking for work has increased even more, pushing the unemployment rate up, however for a good reason,” the report stated.

The industries leading the state’s economic charge are hospitality, financial services and healthcare.

The report was reviewed by the 15 member-economists from the state’s Department of Administrative Services Economic Advisory Committee and by a dozen members of the Governor's Council of Economic Advisors.