Recession of 2008

From the Oregonian:
The creeping tide of job losses that began in February showed no sign of slackening — or accelerating — in July. Figures released Monday showed that Oregon lost another 3,600 jobs on a seasonally adjusted basis and saw its unemployment rate jump a half percentage point to 6 percent.Three major industries — construction, […]

From Bloomberg:
The U.S. economy may have tipped into a recession in the last three months of 2007 as consumer spending slowed more than previously estimated and the housing slump worsened, revised government figures showed.The world’s largest economy contracted at a 0.2 percent annual pace in the fourth quarter of last year compared with a previously […]

This one hits close to home - my dad worked for Hynix and this closure was not a surprise.From the Oregonian:
Oregon’s jittery economy took its biggest hit Wednesday with word that Hynix Semiconductor plans to shutter its 10-year-old memory chip plant in Eugene in the next two months, putting more than 1,100 employees and 300 […]

From the Oregonian:
The economy is likely to keep stumbling at least through the rest of the year, analysts agreed Thursday, after a disappointing government report showed that payroll jobs fell by 62,000 in June, the sixth straight month of job losses.
“More job losses are coming through the remainder of the year. The economy has lost […]

From the Oregonian:It’s bad, economists agree. But just how bad?Wells Fargo’s Ed Kashmarek is the latest to weigh in on Oregon’s outlook, issuing a report Friday forecasting a modest downturn in the Portland area. While job losses are likely to rise, pulling down personal income and spending, Kashmarek suggested that Portland’s economy will continue to […]

From the DJC:
Oregon is among the top 10 states hit hardest by construction job loss, according to a report released Wednesday by the national Associated General Contractors. Construction employment in Oregon has dropped 7.9 percent between May of 2007 and May of 2008, placing the state as the seventh hardest hit in the country, according […]

From the Portland Business Journal:
Small business owners are saving and spending less, as consumer goods and fuel costs top records levels, according to the latest Wells Fargo/Gallup Small Business Index survey.
More than one-third of the 600 surveyed said their personal financial situation as a whole is getting worse. Seventy-five percent of respondents had concerns about […]

I skipped this story from the Portland Tribune a few weeks ago but with gas expected to reach $5.00 a gallon next month I thought it would be good to look back at what people were feeling when gas was at $3.75.
Throughout Multnomah, Washington and Clackamas counties, people are worried about the economy, worried about […]

So consumers are cutting back; I know I am. I used to visit Starbucks a several times a week but now I’ve decided that that I can do without that small luxury.
KGW showed a segment last night about the impact on local restaurants. Input costs are up and restaurant traffic is dropping. Click here to […]

From the Oregonian:
Weyerhaeuser Co., one of the world’s largest timberland owners and wood products manufacturers, said Friday it swung to a loss in the first quarter, hurt by a sagging housing market and low product prices.The Federal Way, Wash.-based company said it expects continued weakness in the housing market and higher fuel costs to hurt […]