The cryptocurrency sell-off continued over the weekend following a roller-coaster week of trading, as authorities in China and the U.S. move to tighten regulation and tax compliance on all cryptocurrencies. A JPMorgan report showed large institutional investors were dumping crypto’s in favor of Gold. The news raised questions about institutional support for cryptocurrencies.
The number of people traveling again is on the rise. So are prices. Airfares and hotel rates are climbing as travelers return in the highest numbers since the pandemic began, hitting beaches, mountains and visiting friends and family after a year of being cooped up. Even the cost of a road trip is climbing as gasoline prices reach the highest levels since 2014. Domestic airline fares are up 9% since April 1 while international fares are up 17%, and they are continuing to rise.
Oregon hotels are reopening, restaurants are serving up meals again and workers are beginning to return to the office. The state’s factories, though, may have suffered permanent damage. Overall, Oregon has recovered 59% of jobs lost during the pandemic, and the state’s jobless rate has receded from 13.2% in April 2020 – the highest point on record -- to 6.0% last month. The manufacturing sector isn’t showing a similar bounce. Oregon has recouped just a fifth of the factory jobs it lost a year ago.