A7 B USINESS THE BULLETIN • FRIDAY, APRIL 16, 2021 p DOW 34,035.99 +305.10 p bendbulletin.com/business NASDAQ 14,038.76 +180.92 p S&P 500 4,170.42 +45.76 First-time unemploy- ment claims fell sharply last week, to a pandemic low of 576,000, the Labor Department reported Thursday. That’s down 193,000 from the preced- ing week’s surprise spike, and an unexpectedly strong showing even as unemployment remains elevated. Economists had pro- jected about 710,000 fresh claims for the week ending April 10. The week before, some 719,000 Americans applied for unemployment bene- fits. Now, claims sit at their lowest level since March 2020, when the pandemic began, but still well above pre-pandemic levels. For the same week ending April 10, an ad- ditional 131,975 Ameri- cans filed claims for Pan- demic Unemployment Assistance, for gig and self-employed workers. A total of 16.9 million people are continuing to collect unemployment benefits, down from 18.2 million in the previous week. 30-YR T-BOND 2.21% -.11 p CRUDE OIL $63.46 +.31 p GOLD $1,765.40 +30.50 p SILVER $25.96 +.44 p EURO $1.1975 +.0004 COVID-19 | Portland International Airport BRIEFING U.S. jobless claims plummet q Travel soars to highest level of pandemic BY MIKE ROGOWAY The Oregonian Oregonians are flying again. Nearly 775,000 people trav- eled through Portland Interna- tional Airport in March, more than twice as many as did in February. While still well be- low normal travel patterns, the March passenger count was by far the highest in the year since the pandemic began. Redmond Airport traffic increasing Redmond Airport reported 18,872 boardings in February, a 7.5% in- crease from January, according to the latest figures on the airport website. But that was still more than 50% below the number of pas- sengers boarding flights in Redmond in February 2020. The airport forecasts travel will be up again in April, to 813,000 passengers, and a number of airlines are expand- ing service — restoring flights to Europe and a number of do- mestic destinations. There are several possible explanations. March is spring break in Oregon, always a busy travel month. And Oregonians — like people everywhere — are tiring of the pandemic re- strictions and missing family and their favorite vacation des- tinations. Above all, though, the soar- ing passenger volumes surely reflect the effect of the vac- cines. The number of fully vac- cinated Oregonians is now approaching 1 million. The vaccines are proving highly effective, with cases of seri- ous COVID-19 infections ex- tremely rare. It took until April 2 for fed- eral health authorities to advise that fully vaccinated people can resume domestic travel. See Air travel / A8 OREGON ELECTRIC COOPERATIVES EVOLVING TECHNOLOGY CHANGES THE WORK Dow crests 34,000 on economy news Wall Street notched more milestones Thurs- day, as a broad market rally pushed the S&P 500 to an all-time high and the Dow Jones Industrial Average crossed above the 34,000 mark for the first time. The S&P 500 rose 1.1%, with technology, health care and communica- tion stocks accounting for much of the upward moves. Only energy and financial companies closed lower. Bond yields fell. The rally came as in- vestors welcomed a suite of encouraging economic reports showing how hungry Americans are to spend again, how fewer workers are losing their jobs and how much fat- ter corporate profits are getting. Expectations are very high on Wall Street that the economy — and thus corporate profits — are in the midst of exploding out of the cavern created by the pandemic, thanks to COVID-19 vaccinations and massive support from the U.S. government and Federal Reserve. March retail sales soar 9.8% Newly vaccinated and armed with $1,400 stim- ulus checks, Americans went on a spending spree last month, buying new clothes and going out to eat again. Retail sales surged a seasonally adjusted 9.8% in March after dropping about 3% the month before, the Commerce Department said Thurs- day. The increase was the biggest since May of last year, when stores re- opened after closing at the start of the pandemic. It was also much larger than the 5.5% increase Wall Street analysts had expected. Thursday’s report, which covers about a third of overall consumer spending, is the latest sign that the economy is improving as vaccinations accelerate, business re- strictions are relaxed and more people are willing to head out to shop or eat. U.S. consumer confi- dence surged in March to the highest level in a year. — Bulletin wire reports Ben Lonergan/East Oregonian photos Umatilla Electric Cooperative linemen Nick Hardie, from left, Matt Ellis and Mitch Colvin work on a utility pole in Hermiston. BY JADE MCDOWELL • East Oregonian HERMISTON — W hen Mitch Colvin started working as a lineman for Umatilla Electric Cooperative six years ago, he spent a lot of time looking at maps. The maps, which crews hauled around in their pickup trucks, spanned two black binders, each several inches thick and much wider than a standard binder. When linemen needed to locate a specific utility pole or other infrastructure, they had to look up the right paper map out of thousands, then search the tiny numbers on the page, looking for the right one. Now, everything is digitized and ev- eryone has an iPad. “It speeds up the process a ton,” Colvin said. “You just type it in and it pulls it right up.” The iPad not only pulls up the in- formation that was previously con- tained in the maps, but also a treasure trove of other details, from the size of a transformer to the name and phone number of a customer associated with a meter. Linemen can also add infor- mation, such as photos, from on-site. The geographic information sys- tem used to help crews pinpoint in- frastructure in the field is overseen by Adelaide Zumwalt, GIS administrator for the electric co-op. At its Hermiston office, she toggled through different maps, showing an interconnected web of information. On one map, little tree icons dotted Umatilla Electric Cooperative’s service area. Pins marked places where em- ployees used their iPads to note a tree that needs to be trimmed back from a power line, instantly making that in- formation available to those in charge of vegetation management. Hardie uses a rope to raise equip- ment up to fellow line- man Ellis while work- ing on a util- ity pole in Hermiston. See Electric / A8 Senate Democrats propose overhaul of jobless programs BY TONY ROMM The Washington Post WASHINGTON — Senate Democrats on Wednesday un- veiled a sweeping new proposal to overhaul the country’s un- employment insurance system, hoping to modernize the bene- fits — and add more money to millions of Americans’ weekly checks — in the aftermath of the coronavirus pandemic. The new draft legislation put forward by Sens. Ron Wyden, D-Ore., and Michael Bennet, D-Colo., seeks to ad- dress the financial hardships that many families experi- enced over the past year, as the coronavirus left a record num- ber of people out of work and struggling to obtain aid amid the worst economic crisis in a generation. Under the Democrats’ pro- posal, Americans could more quickly apply to their states for jobless assistance. Their checks may be much larger as well, allowing many low- and mid- dle-income workers to receive up to 75% of the wages they earned when they had stable employment. In total, these workers would be eligible to obtain at least 26 weeks of unemployment aid if the new legislation becomes law. But they also would stand to collect additional sums — and do so over longer peri- ods of time — in the event the country faces another major downturn or public-health emergency. The bill includes additional help for part-time workers and those who drive for Uber, de- liver for Grubhub or otherwise participate in the gig economy. For Wyden and Bennet, the new standards seek to replace what many Democrats see as an unworkable, outdated sys- tem that experienced immense strain during the pandemic, forcing millions of Americans to wait weeks in some cases to receive much-needed aid. See Unemployment / A8