Portland-area economy weakens Q1 - Pacific Business News (Honolulu):

martaemimbzini.blogspot.com
percent, an accelerating decline compared tothe 13.5 percenr (revised) drop in the fourth quarter of 2008. Of the nine indicatorzs included inthe index, six declinecd significantly, said Tim Duy, director of the Oregon Economixc Forum and a UO adjuncft assistant professor, Labor market trendzs continue to deteriorate. Help-wanted advertising in The Oregonian fell during the consistent with a decrease inhirinh demand. Similarly, initial unemployment claims continued to reaching a month averageof 16,810 claims. Non-farm payrolls continue to fall as under the dual forces of increased layoff and slackhiring demand; payrolls stand 3.9 percentr lower than year-ago levels.
The expected slowdownb in lodging activity finally cameto pass, said Duy,witg estimated lodging revenue (seasonally and inflationn adjusted) down 15.4 percent from the fourty quarter. Passenger traffic at Portlans International Airport was effectively unchanged from theprevioud quarter. Housing markets were generally Housing sales were effectively whileaverage days-on-market fell, partially offsetting a particularl y sharp rise in the fourth quartef of 2008, attributable to the intensification of the financialo crisis and unusual weather conditions, said Duy. Ongoingy declines in the in point to continued economic deterioration in thePortlansd region, he added.
Signs of stabilization are difficulgtto find, he said; expectation for a firming of economic activit y in the second half of 2009 are largelhy based on some tentativs signs of stability in the national Moreover, the impact of fiscal and monetary policiexs should become more evident as the year progresses. the pace of the recovery is expected to be subdued as the economuy adjusts to an environment less dependenton debt-supported consumerr spending growth.