Oregon Insight: Pandemic decimated low-wage jobs, while high-wage work expanded

Erwin Oropesa

Here is The Oregonian’s weekly look at the numbers behind the state’s economy. View past installments here.

The pandemic recession was the steepest, deepest economic collapse in Oregon history.

But not for everyone.

More than one in 10 Oregon jobs paying below $35,000 a year disappeared in the early weeks of the pandemic, according to a new report by Josh Lehner, with the state’s Office of Economic Analysis. Oregon’s jobless rate soared to an all-time high of 13.2%.

During the same period, though, Oregon actually added jobs paying more than $64,000 a year.

The data underscores the notoriously inequitable nature of the pandemic recession. Frontline workers in restaurants, bars, hotels, gyms, boutiques and many other fields were thrown out of work when the state ordered them shut down to contain the spread of the deadly coronavirus.

Nearly 20% of jobs in food preparation and “personal care” (which

Read More

South Africa lays out budget as economy reels from pandemic

Erwin Oropesa

The Daily Beast

Olympian McKayla Maroney Ensnared in Mystery ‘Cult’ the Church of the Master Angels

Photo Illustration by The Daily Beast / Photos via Facebook/GettyWhen serial pedophile and former doctor for the U.S. women’s gymnastics team Larry Nassar was sentenced to a maximum of 175 years in prison, more than 150 women of all ages came forward to share their horrific stories of abuse.They bravely told of how they endured years of trauma and how they had been silenced. For Olympian McKayla Maroney, unfortunately, it had been no different.The now 25-year-old went dark on Instagram in September of 2017; the next month, she shared her harrowing story about Nassar’s abuse, starting from age 13 and even up until she was competing in the Olympics in 2012.“It happened in London before my team and I won the gold medal, and it happened before I won my silver,” she said in

Read More

U.S. to relaunch small business pandemic aid program Monday with new fraud checks

Erwin Oropesa

TipRanks

Oppenheimer: These 3 Stocks Could Spike Over 80%

Wall Street’s best firms don’t just look at the stocks, they look at the big picture, too. And Oppenheimer’s chief investment strategist, John Stoltzfus, is particularly adept at showing us the macro view. In his first note of the new year, Stoltzfus notes a series of factors that are going to impact the markets. The big news, of course, the 800-pound gorilla that cannot be ignored, is the ongoing COVID epidemic. The disease is coming back strong now that we’re well into winter – which was somewhat expected, as it’s typical behavior for flu-like respiratory viruses. With the winter virus surge, we also must contend with a new round of lockdown policies, imposed from state or local levels. It’s hoped that the newly available COVID vaccines will, by springtime, start to put a damper on the novel coronavirus.”The length of time

Read More