Oregon job growth cooling off, report shows

SALEM – Oregon’s job growth has cooled off, and with that, the growth in personal income taxes that the state collects has also slowed.

The state says in its economic and revenue forecast, published on Wednesday, that Oregon’s General Fund revenue outlook remains stable. Currently, those revenues are expected to land within $8 million of the estimate from the close of the last legislative session.

The report says that based on new employment data and withholdings out of Oregonian paychecks, the slowdown is already here. While Oregon’s labor market growth is slowing somewhat, the state is at or near full employment.