Business News


The National Federal of Independent Business Small Business Optimism Index increased slightly by 0.2 points to 98.4.  As the end of the year nears, the outlook for business conditions is not encouraging to small business owners as lawmakers propose additional mandates and tax increases.   Owners are also pessimistic as many continue managing challenges like rampant inflation and supply chain disruptions that are impacting their businesses right now.  Small business owners continue to struggle to increase their workforce with 10% of owners citing labor costs as their top business problem and 29% said that labor quality was their top business problem, a 48-year record high.

 

Oregon job growth picked up in November, with the state adding another 10,000 jobs. That’s more than double last month’s total and 50% above the state’s pace in the prior six months. The numbers are a heartening sign for the state’s economy and suggests that Oregon’s recovery from the pandemic continues, though some sectors like leisure and hospitality remain severely diminished. The state has now recovered 4 out of every 5 jobs lost to the pandemic. Oregon’s unemployment rate fell last month to 4.2%, matching the national rate. November was the 19th consecutive month the state’s jobless rate has declined. It’s now back near pre-pandemic levels, near the lowest point on record.

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