The Oregon Department of Administrative Services (DAS) issued this week a quarterly economic forecast predicting higher wages increasing projected tax revenue will allow the state to recover more quickly from the recession, triggered by the ongoing COVID-19 pandemic than it did from The Great Recession of the early 2000s.
Oregon’s increasing wages, up about 8 percent since March 2020, may have made up for expiring federal aid, but any gains felt by the middle class mostly have been wiped away by supply-chain bottlenecks and inflation, which surged to 6.2 percent in October 2021 -- the most upward pressure since November 1990, according to TradingEconomics.com
You have reached content available exclusively to Banks Post digital subscribers.
We rely on subscribers to keep the lights on in our independent newsroom. Join us with a digital subscription today.