The University of Oregon Regional Economic Indexes for November 2017 was released today, January 24, 2018. We thank KeyBank for their generous support of this project.
The economic outlook remains bright for Oregon’s major metropolitan areas. Highlights of this month’s report include:
- The Portland metro area shows some signs of a moderating pace of growth, which is not surprising given the length of the recovery and the already low level of unemployment.
- Still, the low level of initial unemployment claims foreshadows continued job growth in the region, although the pace will likely be slower than earlier in the expansion. Indeed, slowing job growth is evident across all regions.
- The Eugene-Springfield measure remains buoyed by solid labor market metrics and housing sales; new housing construction remains weak compared to past cycles. The Central Oregon region maintains a solid overall pace of activity.
- The Rogue Valley continues to show steady growth with very low unemployment but persistently weak levels of new home construction. The Salem measures was supported by a rapid pace of home sales and low unemployment.
Tim Duy – 541.346.4660 (w)