Monthly Economic Snapshot: January 2021
The state’s unemployment number moved up in December, the first time it has increased since April. The state rate, 6.4% is still slightly lower than the national average, which is also increasing, and likely reflects new business closures that occurred late in 2020.
OBI is tracking unemployment and other economic indicators each month in our Monthly Economic Scorecard to reflect trends in unemployment, consumer spending, and impacts on various communities. The scorecard data is developed by ECONorthwest on behalf of OBI and our partner, the the Oregon Business Council.
The most recent data show a mixed bag. While confirmed cases of COVID-19 have started to decline, the full impacts of Gov. Brown’s winter business restrictions are being realized. As stated above, unemployment is up. And, while consumer spending – both in general, and in hard-hit sectors like restaurant and lodging – is up, Oregon’s diverse communities saw no economic improvement last month.
The scorecard is intended to be a resource for not only our members, but legislators, community leaders and all Oregonians, that provides a glimpse into how our economy is faring each month. The scorecard is developed using the most recent data made available by the state and federal agencies.
You can click on the scorecard to see the data behind the summary.
See the Data Behind the Summary