PORTLAND- There definitely are some signs of economic relief on the Road to Recovery.
Nationally 158, 000 jobs were added in October.
The monthly jobs report is a key indication of where the economy is headed. With unemployment applications for benefits down 9,000 things are improving.
It's a physiological boost that's reflected in consumer confidence. Now at the highest level since 2008.
That's confidence in feeling secure about your job transfers across all aspects of the economy.
Home sales across the country are up. Here in Portland appreciation levels are up, along with prices, now more than 9% since the 2008 housing crisis.
Pent up demand is helping car makers. Local car dealers are seeing increased traffic. General Motors it's best October, up 5% 2007.
At Wentworth Chevytown in Portland, sales are up over that.
"Sales from prior October in 2011, if you compare that to October 2012 we're up 17%. So it's good," said Doug Wentworth, salesmen at Wentworth Chevrolet.
A new Federal Reserve forecast puts Oregon near the top for economic growth though March of 2013. The growth is expected in housing permits, unemployment insurance claims, manufacturing data and interest rates.
"I think the reason we'll have a stronger bounce back is we didn't have a bigger fall off when you look around the country," notes Mark Kralj with Ferguson Wellman Capital Management.
While that's encouraging, it's job growth that's top of mind for those unemployed. Oregon still a full percentage point higher than the national average at 8.7 percent. `