Economy of Oregon
The economy of the U.S. state of Oregon is made up of a number of sectors. During the 1990s and 2000s, Oregon has attempted to transition its economy from one based on natural resources to one based on a mix of manufacturing, services, and high technology.
The Oregon State version of the U.S. Quarter features Crater Lake. | |
| Statistics | |
|---|---|
GDP per capita | $45,049 (2016) |
Population below poverty line | 15.5% (2008-2012) |
| 0.4586 | |
Labor force | 2,159,278 (7/2023) |
| Unemployment | 3.4% (5/2017) |
| Public finances | |
| Revenues | $7,475.135 million |
| Expenses | $5,889 million |
In the 1980s, hard times hit Oregon's main resource sectors: timber, fishing, and agriculture. Efforts by the state government to diversify the state economy led to the growth of Oregon's high tech sector, based in the three counties surrounding Portland, Oregon, but rural counties were left out. The tech bust of the early 2000s caused Oregon to lose many of the 43,000 jobs lost between 2000 and 2003. Between 2004 and 2007, Oregon's and the nation's economies grew based on increases in construction and services. Construction alone added 21,000 jobs during the period.
The Gross Domestic Product (GDP) of Oregon in 2021 was $270.12 billion; it is United States' 25th wealthiest state by GDP. The state's per capita personal income in 2021 was $59,484. As of November 2021, the state's unemployment rate is 4.2%. Oregon ranks 37th in the nation for unemployment.