Tagged: Economy

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.

Oregon has been the most aggressive state in distributing federal funds aimed at preventing foreclosures. The state has tapped into nearly half of the $220 million it received under the “Hardest Hit” program. That's a higher rate than any of the other 17 states and Washington, D.C., that were awarded the funds.

Drought that’s sizzling the rest of the nation has largely left the Northwest states alone. Furthermore, the Midwest’s farmers’ misfortune is actually benefiting farmers here. That’s because grain prices are raising because of the Heartland’s decimated yields. Correspondent Anna King has this report from central Washington’s grain country.

Wheat stubble, grain elevators and whole lot of wide open – that’s Connell, Washington.

Two aerospace companies plan to expand their operations in Washington. Gov. Chris Gregoire made that announcement Monday from the Farnborough Air Show in London. But the news highlights a gap between the legions of unemployed and the skills they need for many new jobs.

Washington’s economy remains essentially flat. That’s the takeaway from Washington’s quarterly revenue forecast out Wednesday. It shows an increase of about a $150 million through the current two-year budget cycle.

That slight uptick in projected revenues is mostly due to legislative policy decisions this year like fund transfers, not the economy.

The latest jobs report for Washington state contains a paradox. It shows strong job growth in the private sector. But at the same time, the state unemployment rate also rose.

Washington's Employment Department Wednesday reported a May jobless rate of 8.3 percent, up slightly from the revised 8.2 percent rate of April.

State labor economist Anneliese Vance-Sherman said in a conference call that the higher unemployment rate was caused primarily by once-discouraged workers resuming their job hunts.