Monthly Economic Snapshot: December 2020
OBI is partnering with the Oregon Business Council and the economic research firm ECONorthwest to regularly monitor several key indicators as Oregon businesses and communities recover from the economic impacts of the COVID-19 pandemic. Our primary focus remains, of course, the health of all Oregonians and preventing the spread of this dangerous virus. At the same time, we need to look forward to economic recovery: Restoring jobs, getting Oregonians back to work and ensuring financial stability for families across our state.
Due to the state’s reporting timelines, the most recent data may not reflect the business closures ordered by Gov. Brown toward the end of November, which caused additional layoffs and associated economic hardship for Oregon families. Additionally, while the unemployment rate is trending down, labor force participation is also decreased. We expect to learn more in the next release of data and will update our findings as soon as we can. For now, see the scorecard below to get a sense of where Oregon’s economy is.
You can click on the scorecard to see the data behind the summary.