Oregon lawmakers will have roughly $500 million less to work with for the next two-year budget cycle, according to the state’s latest economic and revenues forecast unveiled Wednesday in Salem. The uncertainty sparked by tariffs, slashed federal spending and immigration issues are clouding the state’s economic outlook, according to Oregon Chief Economist Carl Riccadonna. Also on Wednesday, the state released its latest jobs report. It showed that unemployment in Oregon rose to 4.7% in April, which is higher than the national average and marks a gradual increase over the past year.
Oregon Chief Economist Carl Riccadonna joins us for more details about the state’s economic outlook and the challenges ahead.
