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Business News


U.S. stocks are sharply lower in early trading as accusations fly in the Ukraine-Russia crisis. The S&P 500 eked out its 31st record of the year Wednesday, again closing above the 2,000 level. (CNBC)

The second estimate of 2nd quarter Gross Domestic Product shows the economy growing at an annual growth rate of 4.2%, slightly lower than the first estimate of 4.0%. (Bloomberg)

The Labor Department’s weekly jobless claims show 298,000 new claims last week the same as the prior week. (DOL)

Americans are more anxious about the economy now than right after the Great Recession despite an improving economy that is moving closer to full health. Seventy-one percent of Americans say they think the recession exerted a permanent drag on the economy. By contrast, in November 2009, only 49% thought the downturn would have lasting damage. (Associated Press)

Median household income has been on the rise for the past three years, climbing 3.8% to $53,891 in June. Median income remains 3.1% below its June 2009 level of $55,589. Midwesterners experienced a surge in median income since 2011, boosting them back to pre-recovery level. Southerners median income, however, is still 6.1% below its June 2009 level, while Northeasterners and Westerners saw their median income slip about 4%. (CNN Money)

 

Traffic & Weather

 

 

 

King Solomon Lane closed between Ferguson Road and King David. (7/25)

 

Jones Road, full road closure between Bennington Lane and NE Butler Market Road. May 18 – August 18, local access only.
 

Oregon State University off-site improvements for intersection reconstruction, July 11 – August 3,    7 a.m. – 4:30 p.m., at intersection of Chandler Avenue and Yates Drive.

 

Orion Drive closed in two locations for sewer work; at the intersection with Avery Lane and between Desert Woods Drive and King Hezekiah Way.  From July 11 to Sept. 6. Detours marked.

 

Valhalla Sewer Relocation Project, Mt. Washington Drive at Shevlin Park Road intersection and North to Regency Street. Nighttime closures with detours marked during roundabout construction. Daytime closures for construction towards Regency Street.    7 p.m. – 7 a.m., July 11 – November.

 

R.A.B. Construction:

 

Murphy Road and Parrell Road closed with detours. (9/30)

 

Powell Butte Highway at Neff and Alfalfa Market Roads (8/31)

 
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