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|Thursday, November 05, 2009|
It really doesn’t matter if the GDP, the local economist, the national pundits or your barber is telling you the recession is over. Most of you don’t think it is. In our latest poll, over 60% of the respondents said they don’t believe the recession is over.
"I think the recession is over," UO economist Tim Duy told the Oregonian this week, while “gazing past his young daughter … into sparkling waves off Hawaii.”
Nice work if you can get it, but many Oregonians can’t find a job and the state’s unemployment is among the highest in the nation. Duy and others also like to call this a jobless recovery.
Some think it cannot be a recovery until jobs return.
Ed Ray, OSU president and an economist, wrote in an opinion piece: “Recovery appears to be taking hold. But then came news that by now must seem familiar to many Oregonians, who have heard it many times following periods of economic difficulty: Oregon's portion of the recovery will take a while. And don't expect many jobs to accompany it… Why?”
Oregonians aren’t the only ones to feel the recession hasn’t receded.
The International labor Organization this week questioned whether the recession was really over since wages continued to drop. In a statement issued Tuesday, the ILO said real wages worldwide declined for a second year in a row. The ILO said it expected wages to slide even further in 2009. In the first quarter of the year alone, real monthly wages sagged in half of the 35 countries that submitted data, compared to their average in 2008.
Summed up Chicago Sun-Times columnist Terry Savage recently: “The American public is starting to get more than mildly annoyed at those who tell them the economy is bouncing back.”
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A new report highlights how Oregon bankers are giving back to their communities.
Since 1932 Tidewater Transportation & Terminals (operating as Tidewater Barge Lines and Tidewater Terminal Company) has operated a multicommodity transportation and terminal company based in Vancouver, Washington. The friendly expression on the company’s shipping containers reflects the attitude of about 330 safety and community-conscious employees but belies how complicated the barge business really is.
The Port of The Dalles has run marine facilities since the 1930s, but they are part of a larger mission to strengthen the local economy. They focus on regional economic development with a strong bent toward adding good-paying jobs in high tech, manufacturing and other industries.
Thinking about an MBA? Join us for our upcoming Wine & Cheese Information Session to learn more about Concordia University's MBA program.
Providing attendees with unique taste of the Northwest Reception.
CFM Strategic Communications turns 25 this year and is celebrating with a revamped website, special events for firm alumni and clients, a special-label wine and a list of 25 stories about its client work over the past quarter century.