Tuesday, September 22, 2009


9/22/09 UPDATE.



"More than 9,000 people have lost jobs since mid-2006. Some 29% of homes are vacant."


***9/21/09: KTVZ.COM.

"Much-sought signs of economic recovery proved elusive for Central Oregon in August unemployment rates released Monday - which were up yet again in Deschutes, Crook and Jefferson counties.

Deschutes County's rate rose 0.6 of a point to 15.8 percent last month, nearly double the 8.3 percent rate of a year ago. Crook County's rate increased 0.4 of a point, to 18.8 percent, while Jefferson County's rate jumped 0.8 of a point, to 16.4 percent.

"I was really hoping things would hold steady, but we lost jobs in all three counties," said Carolyn Eagan, state Employment Department regional economist in Bend.

"Any job gain we had in Deschutes County in July, we lost in August," Eagan said.

What's more, Deschutes County's civilian labor force actually dropped for the first time this year, by about 200 people, to 86,918, meaning some people either stopped looking for work, or moved elsewhere. That's the first such drop "in a very long time," Eagan said."

***9/6/09: BEND BULLETIN.

"...tourism for the last fiscal year fell 9.5% in unincorporated Deschutes County and 14.4 percent in Bend..."


***9/4/09: BBC NEWS.

Economic crash in Oregon boomtown
By Adam Brookes

*The population of Bend quadrupled in under 20 years - from 20,000 to 80,000.
*Between 2001 and 2005, the median value of a home in Bend rose by 80%.
*By 2005, work was getting underway on 700 new homes each month.
*But when the US slumped, Bend crashed. The value of a home fell 40% in under two years.
*And unemployment nearly quadrupled from around 4% two years ago to 15% in the summer of 2009.



29%. Largest two year shortfall in two-year state budget by percent.



Top 10 Overvalued Housing Markets, 2009 first quarter

City Price Percent overvalued
Atlantic City, N.J. $243,600 44.1
Ocean City, N.J. $302,100 33.8
Wenatchee $247,100 29.3
Longview $192,600 26.6
Honolulu, Hawaii $614,500 25.7
St. George, Utah $197,000 25

Bend, Ore. $240,800 24.9

Bellingham, Wash. $288,900 24.2



Third highest jump in unemployment.

"About 15 percent of people living in Bend are unemployed, up from about 8.8 percent last year this time. Bend's jump was third-highest in the nation of any sized city, according to the report."


***9/2/09: KTVZ.COM.

"Central Oregon ranks sixth in the nation in overall homelessness rates and third among rural communities, according to a report just released this week by the National Alliance to End Homeless."

CoCs with Highest Rates of Homelessness (per 10,000)
1. Detroit, MI 216
2. Mendocino County, CA 161.3
3. Monroe County, FL 146.9
4. Portland, ME 116
5. Santa Cruz, CA 111.7

6. Central Oregon 110.5

7. Merced, CA 109.3
8. Santa Barbara, CA 106.1
9. Boston, MA 98
10.District of Columbia 96.6



Unemployment Rates for Metropolitan Areas
Monthly Rankings
Not Seasonally Adjusted
July 2009

341 Bend, OR Metropolitan Statistical Area 13.9

(#341 out of 372 Metro Areas.)



Unemployment Rates for States
Monthly Rankings
Seasonally Adjusted
July 2009p

47** OREGON ** 11.9


***6/17/09: NEW YORK TIMES.

Slump Dashes Oregon Dreams of Californians

"Now the Californians who contributed to Oregon’s growth are in some cases adding to its economic struggle. As of May, Oregon had the second-highest unemployment rate in the nation, at 12.4 percent, behind Michigan. California, which has not released its May figures, ranked fifth in April.

While some other states with high unemployment, including Michigan, have seen their labor forces shrink, Oregon’s labor force has grown. Economists say some of the growth appears to be driven by people who moved here with money they made in California, whether from real estate or stock market investments, and expected to get by but now must look for work."


No comments: