Portland Business Journal --
The University of Oregon Index of Economic Indicators rose 0.5 percent in August to 84.4, based on a 1997 benchmark of 100.
Tim Duy, director of the Oregon Economic Forum and a UO adjunct assistant professor, said the increase “suggests the Oregon recession will end during the second half of 2009.”
Although initial jobless claims continue to drift down at a modest pace, indicating a slower rate of layoffs, claims remain well above levels consistent with sustained job growth, Duy said.
Employment services sector payrolls — dominated by temporary help agencies — declined, providing further evidence of the weak job market. A small job gain (500) in July was quickly reversed; overall nonfarm payroll (not included in the index) losses accelerated in August as Oregon firms shed a net 6,600 employees.
such a relief... and I always thought that businesses closing, people out of work and bankruptcies was a bad thing.
silly me...apparently, I have been wrong all this time.
I mean, who's to argue with the experts at University of Oregon regarding the economy?
with the improvement in the economy, I wonder if that also means that the U of O will be lowering their tuition rates?
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