Oregon Revenue Forecast: revenue picture is flat, uncertainty remains

Oregonians for Food and Shelter

This week the state economist delivered the June Revenue Forecast. Although a variety of indicators suggest economic conditions are improving, those improvements remain slower than what we have experienced in past economic recoveries. Oregon’s current revenue picture is flat and a considerable amount of uncertainty remains before we reach the end of the biennium.

Here are the highlights:

  • Oregon personal income was up $0.3 billion (0.1 percent) from the March 2012 forecast.
  • Oregon employment was up 3,676 jobs (0.2 percent) from the March 2012 forecast.
  • Combined, General Fund and Lottery Fund resources are down $225.4 million from the 2011 close of session estimate. There is a projected $95.1 million ending balance for the remainder of the biennium.
  • There is no personal or corporate kicker projected for 2011 or 2013 and economists project a 13.3 percent increase in revenue growth between the 2011-13 and 2013-15 biennia.

For more information, the Revenue Forecast, Executive Summary, can be viewed online. A copy of the full report can be found here.

Oregonians for Food and Shelter (OFS) is a grass roots coalition which works to protect the rights of natural resource based businesses in Oregon.