Business News

US Economy added 260,000 New Jobs

The Department of Labor says the US economy added 261,000 new jobs in October rebounding from the hurricanes. The private sector accounted for 252,000 of the increase. The unemployment rate stands at 4.1%.

Bank of England raised interest rates for the first time in a decade yesterday to 0.5% from 0.25%. (Bloomberg)

The Labor Department said on Thursday worker productivity rose at a 3.0% rate. That is the fastest pace in three years.

Oregon’s Electro Scientific Industries reported sales growth in the quarter of 139% posting sales of $71 million. Profits were $4.3 million half what they saw a year ago.
ESI is Oregon's oldest technology company starting in 1944. It currently makes laser tools for electronics manufacturers. (OregonLive)

New York headquartered glass, ceramics and fiber-optics  manufacturer Corning is the buyer of the old Hynix computer chip factory in Eugene. The Eugene Register-Guard reported the 300-acre property's $13.4 million sale on Tuesday. Corning reported $9.4 billion in revenue last year and profits of $3.7 billion.

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.

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