There were several times in 2020 when we didn’t just want a mask over our nose and mouth. Could we block our eyes and ears as well?
The economic news seemed to be one dismal story after another. We have all heard about or know people who lost their jobs and businesses that struggled to stay alive. It was heart-wrenching to hear Bend Chamber of Commerce CEO Katy Brooks tell us about business owners desperately reaching out to the chamber for help.
But we are going to come out of this. One curious thing about how Oregon is weathering the recession was recently noted by Josh Lehner, state economist.
Oregon’s economy is usually more volatile than other states. It has to do with many things. It typically means that some of Oregon’s major industries “grow faster in expansions but fall or slow further in recessions.”
This COVID-19 shutdown recession has been different for Oregon.
Oregon is doing about the same as the rest of the nation, Lehner wrote. The state still lost more jobs relatively speaking, but wages have rebounded a bit faster.
We are not saying this is great news. And sometimes economic data is later revised to create a slightly different picture.
At least, it’s better than what we might have expected. As Lehner says: “For now this is overall encouraging in the sense that Oregon is not starting from the bottom of the pack like we normally do coming out of a recession.”