Oregon is experiencing stronger growth in employment according to the December 2013 report from the Oregon Office of Economic Analysis released in late November, although the pace of that growth varies across the state. Bend and Medford were Oregon’s hardest hit housing markets, and both have begun adding jobs again, indicating that an economic recovery is extending across the state. With continued improvement in the housing market, and related economic activity, it is expected that job growth in the cities and counties of western Oregon will also improve.
The same report indicates that, state-wide, Oregon has recently experienced acceleration in job growth, household income levels and tax revenues. Based on the economic analysis, growth is expected to stabilize near current rates through the remainder of the 2013-2015 budget period. While it is still early in the biennium, factors such as asset market performance, labor force growth and a return to traditional migration trends have the potential to generate a positive short-term revenue impact.
Source: State of Oregon, Office of Economic Analysis