Business News

According to the Labor Department the US economy lost 140,00 jobs in December, and economists had predicted it to ad 50,000 jobs. The unemployment rate now stands at 6.7%. The industry that saw the largest losses was the hospitality industry because of the new lockdowns across the country. The U.S. service sector expanded more than anticipated in December, marking a seventh straight month of expansion.


The Institute for Supply Management services purchasing managers’ index (PMI) came in at 57.2 for the month following a print of 55.9 in November. The increase came as new orders, supplier deliveries and inventories increased markedly in the service sector in December.


Oregon recreational-marijuana sales surged in 2020, peaking during a difficult summer of protests and lockdowns. The result was a record year of business for the state’s marijuana purveyors, based on data from the Oregon Liquor Control Commission, which oversees marijuana sales. Total marijuana sales in Oregon jumped from $795 million in 2019 to more than $1 billion in 2020, led higher by Multnomah County.

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