Black Friday, Cyber Monday, Cyber week…..recovering?
- Kevin's Newsletter
There appear to be some bright spots this Christmas in our economy. Black Friday shopping increased 7% over last year. Total spent during the four-day shopping week-end was up 16% with $7.4 billion in increase of spending over 2010. Cyber Monday was the best selling retailer day since its inception in 2005. Additionally we spent nearly $6 billion online at retailer’s websites last week during “Cyber Week.”
More good news shows that nationally the unemployment rate fell from 9% to 8.6%, which is the lowest it has been since March 2009. The US Department of Labor reported that nationally 120,000 jobs were added in November.
How is all of this affecting us here in Oregon? I know we still have significant challenges in Oregon with unemployment, the slow housing market, decreased revenues for schools and other important programs, but it appears that people seem to be embracing this season.