Report: Oregon's economy is growing, job market tightening - KPTV - FOX 12

Report: Oregon's economy is growing, job market tightening

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PORTLAND, OR (AP) -

Oregon is experiencing "full-throttle rates of growth," the state says in its economic and revenue forecast, which predicted businesses will find it harder to fill vacancies in a tight labor market.

The report published Wednesday says "businesses will either take bigger chances on less-than-perfect candidates or hire away workers from competitors with better compensation packages and/or work environments." Oregon has added an average of nearly 5,000 jobs per month since 2014.

Oregon's average wage is lower than the national's but is at its highest since many lumber mills closed in the 1980s.

Personal income tax collections kept expanding, keeping revenues in line with forecast when the budget was drafted.

Gov. Kate Brown said Oregon is in its 50th straight month of job growth, but economic slowdowns elsewhere call for caution.

Copyright 2016 The Associated Press. All rights reserved. 

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