Oregon’s economy soars yet state budget gap grows: here’s why

Oregon has never seen times quite like these.

Unemployment is the lowest on record. Wages are rising at a 4 percent annual clip. The state is enjoying an unprecedented housing boom, and even lagging rural areas are adding jobs at a steady pace.

For Oregon’s budget, though, it’s still not enough. Not nearly enough. The state faces a $1.6 billion shortfall in the next two-year budget cycle, and even if the economy stays healthy the gap is likely to grow again the next time Oregon tries to balance the books.

So what’s gone wrong?

By Mike Rogoway | The Oregonian/OregonLive

Full Story: http://www.oregonlive.com/business/index.ssf/2017/04/oregons_economy_soars_yet_stat.html#incart_river_home_pop