State quarterly budget released & local numbers

 

Employment Gains   The Oregon Department of Economic Analysis has released its quarterly budget forecast, and the Oregon Employment Department has shared July's employment data.  
  The state's budget report shows tax revenue was up at the end of the last quarter and has triggered Oregon's kicker to go into effect.
   Economist Josh Lehner posted in his blog, "Personal income taxes ended the biennium 2.3% above the Close of Session forecast, triggering a $464 million kicker for tax year 2017 to largely be paid out during income tax filing season in April 2018. Corporate excise taxes ended 2015-17 $111 million above their Close of Session forecast, and above 2% kicker threshold. However, instead of returning unanticipated corporate collections to taxpayers, statute directs that the corporate income tax kicker be dedicated to education spending."
  Economist say in order for Oregon to maintain its stronger labor market growth, it needs more workers.
  Locally, the latest economic data shows nearly every industry in Washington County continues to show impressive job growth figures.  
   Construction trades have found 1,000 new job opportunities in Washington County since July 2016, while trade, transportation and utility workers have found 1,200 new jobs here.  
   In addition,  education and health care services have expanded their payrolls by at least 1,800 positions since July 2016.
  To read more, see Josh Lehner's blog or the WEA Economic Indicators;