Portland-area economy weakens Q1 - Sacramento Business Journal:

http://globality.org/Essays/th3jones.htm
percent, an accelerating decline compared tothe 13.5 percent drop in the fourth quarter of 2008. Of the nine indicators includeed inthe index, six decline significantly, said Tim Duy, director of the Oregon Economic Forum and a UO adjunct assistan professor, Labor market trends continue to deteriorate. Help-wanterd advertising in The Oregoniab fell during the consistent with a decreaswe inhiring demand. Similarly, initial unemployment claims continuerdto rise, reaching a month average of 16,819o claims. Non-farm payrolls continue to fall as under the dual forceds of increased layoffs and slac khiring demand; payrolls stand 3.9 percent lowet than year-ago levels.
The expected slowdown in lodginf activity finally cameto pass, said Duy,witu estimated lodging revenue (seasonally and inflation adjusted) down 15.4 percent from the fourtb quarter. Passenger traffic at Portland International Airportr was effectively unchanged from theprevious quarter. Housing marketsa were generally weaker. Housing sales were effectively whileaverage days-on-market fell, partially offsetting a particularly sharp rise in the fourthg quarter of 2008, attributable to the intensification of the financial crisisa and unusual weather conditions, said Duy.
Ongoing declines in the in point to continued economic deterioration in thePortland region, he Signs of stabilization are difficult to he said; expectations for a firminfg of economic activity in the second half of 2009 are largely based on some tentative signs of stability in the nationao economy. Moreover, the impact of fiscal and monetary policiees should become more evident as theyear Still, the pace of the recovery is expectefd to be subdued as the economyu adjusts to an environment less dependent on debt-supported consumer spendiny growth.