Stay informed about economy news and updates in Portland, OR.
A study reveals that Oregonians must increase their annual spending by nearly $10,000, or 13% of their income, to maintain their standard of living from 2019 amid rising inflation. This report highlights the economic pressure faced by residents in Oregon as they navigate the challenges of inflation and cost of living increases.
Federal disaster relief loans are now available for businesses impacted by the severe ice storm last January. Affected businesses must apply by November 8 to receive low-interest loans designed to aid in recovery. This initiative is crucial for local economic stability in the wake of natural disasters.
Oregonians facing financial difficulties due to the pandemic now have access to state-sponsored financial assistance through the Oregon Housing and Community Services (OHCS). This initiative aims to support homeowners struggling to maintain their residences amidst economic hardship.
Washington state's minimum wage will rise to $16.66 per hour starting January 1, 2025, following a 2.35% increase announced by the Washington State Department of Labor & Industries. This adjustment reflects ongoing efforts to improve the standard of living for workers in the state.
An Oregon family successfully navigated the challenges of homeownership despite the ongoing housing crisis affecting middle-income households. Through careful savings and assistance from a nonprofit organization, they managed to secure a down payment and purchase their first home after a six-year journey.
Commissioner Carmen Rubio has successfully passed Portland's first-ever Housing Production Strategy, aimed at addressing the city's housing crisis. This initiative is part of a broader effort to stimulate housing production and improve affordability in the region.