Senate President, Peter Courtney, on Oregon Economic outlook

[Senate President Press Release]
Statement by Senate President Peter Courtney

“When Oregon’s unemployment rate increased to 6 percent in July, I expressed concerns that it could go higher. Today’s announcement that the rate has jumped to 6.5 percent in August is another indication that the national economy continues to pull Oregon down. We still don’t know whether we’ve seen the worst of this economic storm and the news from Wall Street today isn’t encouraging.

“Losing jobs is like taking on water for the ship of state government. More Oregonians are going to need a lifeline at a time when the state’s ability to provide crucial safety net services will be challenged by falling revenue.

“We have to approach the coming months by carefully setting our priorities and taking care not to create expectations for the 2009 session that we won’t be able to meet.

“Ultimately, the best way to navigate through the storm is by putting Oregonians back to work.”