Image provided by: University of Oregon Libraries; Eugene, OR
About Coast river business journal. (Astoria, OR) 2006-current | View Entire Issue (July 20, 2022)
BUSINESS NEWS 8 • JULY 2022 COAST RIVER BUSINESS JOURNAL Infl ation has been an up- ward trajectory in the U.S. West since early 2021. Infl ation picks up steam, reaches 9.1% By DON JENKINS Capital Press Infl ation accelerated in June, rising to 9.1% over the past year, the biggest jump in the c onsumer p rice i ndex since November 1981, the U.S. Bureau of Labor Statistics reported on July 13. Prices rose by 1.3% over May, the largest one- month increase of the year. The year-to-year infl a- tion rate in May was 8.6%. Almost everything was more expensive in June than in May, with food, energy and shelter being the largest contributors to infl ation, according to the bureau. Vehicle repairs, clothes and household furnish- ings also were more expensive. Lodging and air travel were among the few items that were less expensive than in May. Minus food and energy, infl ation was 5.9%. The month-to-month increase was 0.7%, also the larg- est of the year. Food prices, including food consumed at restau- rants, have increased by 10.4% over the past 12 months, the largest annual increase since February 1981. The infl ation rate for just food consumed at home has been 12.2%, the highest infl ation rate for groceries since April 1979. All six of the major grocery store food group indexes have increased — fi ve by double digits. The cost of butter and margarine has increased by 26.3%. The food group with lowest rate of infl ation has been fruits and vegetables, 8.1%. Energy prices have risen 41.6% over the last year, the biggest jump since April 1980. Fuel prices were a major contributor to energy infl ation. The gasoline index has risen 59.9% in the last 12 months, the largest increase since March 1980. The gasoline index rose 11.2% in June after increasing 4.1% in May. The Biden administration’s Council of Eco- nomic Advisers tweeted that energy prices refl ected the impact of Russia’s invasion Ukraine and likely will continue to be volatile. The CPI measures changes in the prices of goods and services purchased by urban households. The U.S. Department of Agriculture’s Foreign Agricultural Service recently reported that fertilizer prices began surging in the middle of 2021. Most of the price increase can’t be attributed to Russia’s invasion of Ukraine, but the war has wors- ened a global shortage of fertilizer, according to the USDA. The global outlook may be more dire for 2023 plantings as high prices are likely to continue until the war ends, the USDA warned. Japanese maple has several branch Q: My tips that look dry and have not leafed out. What could cause this? A: BRIM’S Farm & Garden 34963 Hwy. 101 Business Astoria • 503-325-1562 For beautiful gardens & healthy animals www.brimsfarmngarden.com Maples suffer die back from a host of causes. Primarily, poor soil drainage, herbicide exposure and improper planting set maples up for decline. Some are prone to verticillium wilt which is present in our soils. Also, make sure the tree is not planted too deep, and do not use weed and feed near the root system. Cut out all the dead branches and the more vigorous wood will put on more leaves. Use a disinfectant on your pruners between cuts. Apply a thin layer of aerobic compost such as our Harvest Supreme to the soil surface twice a year to increase the beneficial microbe activity in the root zone. A graph from the “2022 Oregon Talent Assessment” shows how relatively few jobless people there are to fi ll vacancies. ‘Highly unusual labor market’ of 2022 analyzed in Oregon report The assessment notes that the state’s unemployment rate is at a low point historically, but employment levels still aren’t back to where they were before the pandemic. Staffi ng shortages have been widely reported across The assessment also notes that by some indicators, Ore- Oregon and the country, as businesses struggle to recover gon’s labor market is faring better than the national aver- from the decimating economic blow of the covid-19 age, with a slightly higher labor force participation rate. pandemic. The report notes the complex state of hiring and The state’s third “Oregon Talent Assessment” (tinyurl. workforce development in 2022. For instance, the report’s com/2022-Oregon-Talent-Assessment) confi rms that hir- analysis of diff erent employment sectors found that short- ing has been tough — with 84% of employers reporting ages weren’t universal. diffi culty fi lling positions — and the report fi nds many The assessment confi rmed the continuing and long- other diffi culties in what it calls a “highly standing need for more healthcare workers unusual labor market” created by a pub- in the state, like registered nurses and den- lic health emergency and the government’s tal assistants. Service jobs, including food More info response to the crisis. service, also account for a large number of North Coast One of the hopes for the assessment is projected job openings. On the other hand, businesses that it will help inform the implementation it found that the number of people getting struggle to fi ll of Future Ready Oregon — a $200 million technology-related credentials appears to job vacancies workforce spending bill the Oregon Legis- far outnumber anticipated job openings in • Page 10 lature passed earlier this year. relevant fi elds. “The fi ndings of this year’s Talent The pandemic has had a mixed impact Assessment will help inform employer and on skill development for workers and man- community collaboration in the implementation of the agers, the report found. Employers reported that while unprecedented Future Ready Oregon investment pack- there was less access to hands-on learning — especially age,” Anne Mersereau, chair of the state’s Workforce Tal- for people like career and technical education students ent Development Board, said in a statement. “Employers — the pandemic helped to increase the growth in digi- and partners have shown they want to collaborate with tal, leadership and soft skills, such as their dependability, college and workforce partners in a variety of ways to empathy and teamwork. build equitable pathways to prosperity, and the more we However, among employers that reported their staff know the better we can use this data to tailor our strategies weren’t “fully profi cient,” most said the biggest reasons to best serve all Oregonians during this time of change.” were a lack of occupational and soft skills. The 2022 The talent assessment was developed by economic assessment notes that the complaints from employers consulting fi rm ECONorthwest for the Oregon Work- about a lack of soft skills and inadequate preparation for force and Talent Development Board and the Higher Edu- specifi c jobs isn’t a new problem. They showed up in pre- cation Coordinating Commission. vious assessments, well before the pandemic. By MEERAH POWELL and ROB MANNING OPB
