This post is the countermeasure to my last (mostly depressing) post about the need for more high paying jobs in Oregon.
Ben Jacklet, managing editor of Oregon Business, believes the recession is nearly over in the U.S. and in Oregon. He says the state gained 42,000 jobs over the past year and hiring is picking up.
In fact, other than the recent closure of the Blue Heron paper mill in Oregon City, the business news out of Oregon has been uncharacteristically rosy lately. Intel is building a $2.5 billion factory in Hillsboro and just announced its most lucrative quarter ever. Facebook is pouring millions into its Prineville data center. Google is investing $100 million in Eastern Oregon wind power. Crop and beef prices are up for farmers and ranchers. Crab and salmon prices are up for fishermen. There will be a salmon fishery off the coast this summer. Exports are growing, with the weak dollar playing in Oregonâ€™s favor. Bank of the Cascades, MBank and other financial institutions have avoided the wrath of the FDIC. New businesses are popping up in downtown Bend. Vestas, McMenamins, and the Portland Timbers are bringing new energy into downtown Portland. Statewide, trucking is up 26 percent year over year, online job ads are up 23 percent, and business and personal bankruptcies are down 3.4 and 8 percent respectively.
To me, this adds up to a preponderance of evidence. The U.S. recession allegedly ended in June 2009. And now it is finally ending in Oregon.
Okay then! Pop open a Willamette Valley sparkling wine and let’s toast.