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Oregon Economy, Another Unsettled Year

Posted on 18 Jan 11

Economist John Mitchel, PhD addressed the Independent Insurance Agents and Brokers of Oregon (IIABO) at their annual Forecast Breakfast Thursday, January 6th, 2011 at the Multnomah Athletic Club.

Mitchel said Oregonians should expect a long slow recovery and it will be years before the economy returns to pre-recession levels.

Mitchel was the Western Regional Economist for U. S. Bank prior to his retirement. Today he is on the board of directors for Oregon Mutual Insurance, McMinnville and speaks several times a year to business groups.

Mitchel went on to say, “Recovery from financial crisis have always been long slow drawn out experiences”. “If we do not lower interest rates and broaden the tax base, by 2025 Federal revenues will be completely consumed by interest, Medicare and Social Security”.

Independent Agents are severely impacted by declines in the economy and member interest was high. Tom BeLusko, IIABO President, Forest Grove said, “Over 300 people attended the Forecast Breakfast, making it the largest meeting of Oregon property and casualty insurance professionals in over two decades”.

The IIABO is a not for profit association of Independent Insurance Agents. Independent Agents represent many insurance companies and unlike direct sales organizations, are able to work with several markets to find the best product and price for their clients. Customized products and local, personal advocacy are unique to their distribution system.

¬¬¬For more information, contact Jim Perucca, Executive VP, Independent Insurance Agents and Brokers of Oregon, 503-274-4000x25 or