SALEM -- A quarterly report from the state's Office of Economic Analysis paints a seriously grim picture of stunted job growth statewide but suggests that the recession in Oregon is either over or close to being over.
It's hard with the available data to pin down a precise date of the actual end of the recession, the report said, but national economic indicators show that the recession has ended and the state should eventually follow suit.
Oregon State Economist Tom Pitiowsky characterized the end of the recession as the start of a "jobless recovery."
The quarterly report supports this. Job growth in Oregon dropped 5.7 in the third quarter from a year ago.
"While we may be at a technical end of the recession," the report said, "we are not at the point of feeling the beneficial effects of a recovery. Demand at businesses will start to pick up, but hiring of labor will be sometime down the road."
Read the full Oregon economic forecast.
