Oregon among 18 states in recession

By Taxpayers Association of Oregon

Colby Smith of The Financial Times made this observation that many states seem to be in the early stages of recession according to the Sahm Rule.

The Financial Times reports, “Labour market conditions soften across the country. DC and 18 states have entered the early stages of a recession sometime in the past nine months, according to the ‘Sahm rule‘. The ‘Sahm rule’ states that when the three-month moving average of the national unemployment rate is at least 0.5 percentage points above its low over the prior 12 months, it is the early months of a recession. The Sahm rule traditionally applies to national unemployment — not state-level data, which can be distorted by small sample sizes — but the trend across the country suggests labour market conditions have softened. Still, the weakness is not yet broad-based and would need to intensify for the worst prognoses to be realised.” (read more)

It appears that the whole West Coast is in the recession warning zone.

On these recession fears, the Oregon Legislature should not go ahead with the Gov. Kotek/President Wagner’s plan to grow Oregon’s budget with a 22%+ spending blowout.

They should instead immediately cut taxes and regulations to help Oregon be strong ahead of such storm.

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