Oregon’s economic outlook has dimmed, marked by rising unemployment, job losses, and persistent affordability pressures. On Monday, state and industry leaders convened at the Oregon Leadership Summit in Portland to explore strategies for restoring stability and growth. The gathering comes amid growing concern over stalled population growth, declining workforce participation, and mounting costs for housing, food, and utilities. n nOver the past year, unemployment has climbed from 4% to 5%, with nearly 25,000 jobs lost and the labor force shrinking to under two million. Many residents report anxiety over federal immigration enforcement, affecting daily life and economic participation. At the same time, a severe housing shortage continues to push thousands into homelessness or unstable living conditions. n nU.S. Senator Ron Wyden (D-Ore.) emphasized that cost-related issues dominate public concerns. “I’ve held over 1,100 town halls,” Wyden said ahead of the summit, “and the top issue always includes the word ‘cost’—whether it’s medical, energy, or housing. People are really struggling.” n nHistorically, Oregon outperformed national averages in population and job growth, fueled by migration and its reputation for livability. But that momentum has reversed. Job creation now lags behind the U.S. average, in-migration has sharply declined, and population projections have been halved since 2019. The Oregon Business Plan report, released just before the summit, underscores the urgency of attracting new investment and business activity. n nDemocratic Governor Tina Kotek used the event to outline her economic vision, centering on business attraction as a cornerstone of her reelection platform. Industry leaders from healthcare, semiconductor manufacturing, artificial intelligence, and agriculture presented their perspectives to lawmakers and stakeholders. n nKey discussion topics included rural education, healthcare access, and solutions to the affordability crisis. Wyden expressed confidence in Oregon’s ability to rebound. “Never bet against Oregon,” he said. “We’ve got challenges—mental health, downtown revitalization—but if we stay focused, we’ll deliver results.” n— news from Oregon Public Broadcasting – OPB
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Oregon’s economy isn’t working for most people. State leaders meet Monday to chart a new path
Oregon’s economy is in rough shape. n nOn Monday, economic and political leaders will attempt to craft a path forward to steer the state’s economy back to relative stability, when they gather for the annual Oregon Leadership Summit. n nThey have their work cut out for them. n nUnemployment has steadily ticked up from 4% to 5% over the last year. During the same time, the state has shed nearly 25,000 jobs, and the workforce has dropped to fewer than 2 million people. Population growth has stalled. Some Oregonians fear going to work or school due to federal immigration enforcement activity. n nMeanwhile, the cost of food, utilities and housing is going up. And a stubbornly persistent housing shortage and affordability crisis continue to force a shocking number of Oregonians into homelessness or housing insecurity. n nU.S. Sen. Ron Wyden, D-Ore., acknowledges it’s a difficult task. n n“The reality is I’ve had more than 1,100 town hall meetings open to all,” Wyden told OPB ahead of Monday’s summit. “The number one issue is where the second word is cost – it might be medical costs, it might be energy costs, it might be housing costs. But Oregonians are just getting clobbered by some of these costs.” n nThis year’s event, taking place in Portland at the Oregon Convention Center, comes as near-stagnant population and economic growth have put pressure on state leaders to attract more business opportunities to Oregon. n n“For much of the past five decades, Oregon outpaced the U.S. in population and job growth, buoyed by steady in-migration and a reputation for livability and opportunity,” reads an Oregon Business Plan report purposefully released ahead of the summit. “But that momentum has slowed. Job growth now trails national averages, in-migration has fallen sharply, and population forecasts have been cut in half since 2019.” n nThe event also comes as Democratic Gov. Tina Kotek is seeking to make attracting business a key pillar of her reelection campaign. Kotek will speak midday at the summit about her vision for Oregon’s economic agenda moving forward. n nLeaders from major Oregon industries — such as health care, computer chips and artificial intelligence, and food and agriculture — will present to lawmakers and other attendees. n nWyden said he expects rural education and healthcare, along with housing and affordability, to be the main topics of discussion. n n“Never bet against Oregon,” Wyden said. “There’s no question that we’ve got work to do. We’ve got work to do in terms of mental health, we’ve got work to do in terms of downtown Portland. But what we consistently do – you stay at it and you get results.”