Monthly Economic Snapshot: Updated May 2021
With the recent release of March employment data, we are seeing positive trends in nearly all of our economic indicators. The unemployment rate fell slightly, and consumer spending has increased in most all categories. However, the big unknown at this point is what impact Gov. Brown’s April 30 business restrictions will have on these metrics. She ordered additional closures after COVID cases surged across the state throughout the past several weeks. It’s likely that we will not see the full picture for a month or two.
Click on the chart above to explore the data for yourself. Meantime, the state is expected to release their quarterly economic forecast in mid-May, which should give Oregonians a better sense of where the state stands financially after several infusions of federal relief and economic impacts from the pandemic.
See the Data Behind the Summary