Tuesday, March 20, 2012

Oregon's Employment Recovery Hits Bump in Road

The Oregon February employment numbers are out and the news is depressing: Oregon lost a seasonally adjusted 6,400 jobs and the unemployment rate held steady at 8.8%.

Still, the trend over the last few months has been positive and I suspect that this will be a temporary aberration as the health of the US economy is getting stronger.  But this exposes a lot of the underlying weakness of the US revovery: while we are in positive feedback loop of increasing demand and increasing employment in general, there is no obvious driver of growth at the moment other than pent-up demand which may not be that strong or that lasting.

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