Oregon's Economy Continues Uneven Recovery
Oregon's economy showed mixed recovery in May. Most of the state's metropolitan regions continued to struggle, but the Portland area showed real progress. KLCC's Jes Burns reports.
The University of Oregon's Regional Economic Index for May found that Portland outperformed the rest of the state. Oregon Economic Forum Director Tim Duy says that area is once again growing at the average rate of the last 14 years.
Duy: "And really what it amounts to is the Portland area, being a bigger area with a much more diverse economy, has been about to make some additional gains relative to the rest of the state."
Central Oregon is still struggling to pull out of the housing slump, seeing a drop in the number of new building permits. Again Tim Duy:
Duy: "There's been some reversion of some of the better numbers that I saw earlier this year in Central Oregon, and I was a little bit disappointed to see that. Buy beyond that, this is really a continuation of patterns I've been looking at for a while."
Eugene-Springfield took a hit in construction sector employment, which slowed down local economic growth.
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