Business News

Oregon Labor Participation Rate Falls

The road to recovery for Hewlett-Packard hit a bump last quarter when their earnings fell below what traders expected.  HP saw sales of $27.3 billion during the quarter. The company plans to cut up to 16,000 more jobs in a move to right size operations.  The company has cut 50,000 jobs over the last two years. (CNBC)

The index of leading economic indicators climbed 0.4% in April.  The index gives us a glimpse of what to expect six to 12 months in the future. This is the third consecutive monthly increase driven by improving housing and financial market conditions. (Associated Press)

Just three in five adult Oregonians are working or looking for a job, the lowest level since it was first tracked in 1976.  Over the last four years the labor participation rate has fell in all but two counties.  The decline in workers has been ongoing since the turn of the century and is driven by demographics and lack of economic opportunities in rural counties. (Oregon Live)

Another blow to the summer grilling season could be climbing pork prices.  Pork in US cold storage has dropped 17% from a year ago.  This comes when seasonally pork supplies are building.  Hog slaughters have fallen due to a pig virus that has cut herds. (Reuters)

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