Over the past few years, Oregon has continued its expansion, exceeding the national average of growth in bellwether sectors such as construction, healthcare and technology. 2020 is predicted to have some shining light but also showing slowed growth in some of these key industries. How will the Central Oregon region be impacted?

National and State Data Point to Overall Market Stability

According to the State of Oregon Office of Economic Analysis’s 2020 Revenue and Economic Forecast (released December, 2019), the longest-running U.S. economic expansion marches on, and “recession is not yet seen in the data.” The forecast also notes that Oregon’s overall job picture is charting growth, albeit slower growth than in recent years, and strong income growth is also noted. Overall, the picture for Oregon is continued economic good health as read in this quote in the forecast: “Current economic conditions in Oregon have rarely been better.”(1)

Other indicators viewed by economists as reliable indicators include federal interest rates, which just last week were stated as staying stable in the near term, without increase. Oregon is aligned with the national outlook of the U.S. economy remaining in expansion, albeit with slower growth.(1)

Perhaps the most focused indicator of economic health per state is the unemployment rate. Oregon’s dipped to a low of four percent in 2019 and is predicted to remain unchanged. National economic models predict Oregon will add just over 25,000 jobs total in 2020.(2)

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