More Bad News on State Economy
A little addendum to my article on yesterday’s University Senate meeting:
UO economics professor Tim Duy, who monitors the state economy very closely, said that in addition to drops in higher ed funding, state revenue forecasts for the coming year are “trending down below expectations.”
Duy said the fundamental problem is the initial forecasts were too optimistic in how fast the labor market will rebound. But even then, “very rapid growth wouldn’t fix the gap between expenditures and revenue,” he said.
Sorry to rain a little more on everyone’s parade.
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