In the 10 years since the Great Recession ended, the typical Oregonian’s annual income has increased by $2,500. The number of households with annual income of $1 million or more “has risen faster in Oregon than any other state,” with Washington coming in second and Florida third. (Oregon public-policy institute)
The U.S. solidified its status as an energy producer by posting the first full month as a net exporter of crude and petroleum products since government records began in 1949. The nation exported 89,000 barrels a day more than it imported in September. (Bloomberg)
Potato processors are rushing to buy supplies and ship them across North America in order to keep french fries on the menu after cold, wet weather damaged crops in key producers in the U.S. and Canada. The United Potato Growers of Canada estimates about 18% of their planted area, were left unharvested. The U.S. Department of Agriculture forecasts domestic output will drop 6.1% this year to the lowest since 2010.
Morgan Stanley is cutting roughly 2% of its workforce due to an uncertain global economic outlook, CNBC reported. The job cuts at the investment bank, the world's biggest equities trading firm and a leading mergers advisor, will hit technology and operations roles hardest.
Americans are dog and cat crazy. They spent $72 billion on their pets in 2018.