Business News

The big jobs report for April is out and shows the US economy added 288,000 jobs.  The private sector added 273,000 and government 15,000.  There were big upward adjustments for February and March.  The unemployment rate dropped to 6.3%. That is the lowest unemployment rate since September of 2008. The labor force participation rate did fall to 62.8%.    (Associated Press)

Umpqua Bank made almost $19 million in the first quarter down 20% from the same time last year mostly due to charges associated with its acquisition of Sterling Bank. The Sterling deal was the largest bank acquisition in Oregon history and makes Umpqua Oregon’s largest resident bank. (Business Wire)

Oregon based maker of computer chip production equipment, Electro Scientific Industries, says Q1 performance was bleak. The company has been struggling for a couple years and says they see no meaningful increase in sales anytime soon.  The company says losses could double from last year. (Business Wire)

Oregon insurance company StanCorp Financial Group posted profits 6.5% better than the same time in 2013.  The company saw lower claims on group and individual disability policies but lower premium and investment income.  (Zacks)




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