Mon June 30, 2014
Oregon's Economy Experiencing Average Growth.
The state's economy continues to experience average to above average growth. Desmond O'Boyle reports on the latest economic indicators to come out of the University of Oregon.
The Rogue Valley and Salem area are experiencing slower growth compared to the rest of Oregon. The report released last week says residential building permits remain restrained in the Salem and Rogue Valley areas. The rest of the state is following national trends. Tim Duy is Director of the Oregon Economic Forum at the U of O. He says multi-unit complexes seem to be the one area in the housing sector that's improving.
Duy: "Likely a number of factors for that, but a key one is that particularly in that starter home, that initial investment in the housing market, certainly there just seems to be some weakness in demand stemming from relatively high prices still relative to wages, or also tighter credit conditions, [making it] difficult to get a loan."
Duy says Oregon's *unemployment rate has returned to normal or slightly below normal levels in most areas, except the Rogue Valley and Salem areas. Portland-Metro and Eugene-Springfield are posting above average growth numbers.
copyright, 2014 KLCC