RSS
Home
Are we really on our way out of the recession?
Print
Email
RSS
Subscribe
For weeks, many national economists have been saying that the worst of the recession is over. Oregon economists are hoping that this will be proved next week when the new monthly unemployment figures are released. As previously reported, for months Oregon has had one of the top three worst jobless rates in the country, reaching what appeared to be rock bottom at 12.4% unemployment in June.
The recession, beginning roughly in 2008, has affected jobs as well as the banking and housing market. But despite continued weakness in commercial real estate, it has been reported that for the first time in more than two years, Portland home sales are up. Increasing by more than 8 percent in July compared to the same time last year, RMLS reports that this is the first increase since early spring 2007.
Good news if you are hoping to sell, but is the housing market really a good indicator for the entire economy? While unemployment may be a bit trickier, economists speculate that housing market improvement could be a significant sign that the lending crunch is over. With more people buying houses, the banks are more likely to lend. And with more financial stability, employers may be encouraged to take on more employees or at least cease lay-offs.
Stay tuned for a report on last month’s jobless rate in the coming weeks.
Related Articles:
Add a Comment
