“It’s now been 44 months – significantly more than three . 5 years – since Oregon’s jobs downturn started,” Michael Leachman, policy analyst during the Oregon Center for Public Policy said, “but still jobs never have restored for their pre-recession levels. Which makes the present jobs downturn a lot more than twice provided that the first 1990s recession.” Through the very very early 1990s, jobs gone back to their pre-downturn top in only 20 months.
Noting that the household that is typical almost $3,000 within the downturn and has now less earnings than 1988-89, the general public policy center’s report concludes that, “sooner or later, the downturn will go away into memory, but its shadows will loom over way too many of Oregon’s working families for many years in the future.”