Monday, October 8, 2012
Two Measures of Oregon's Economy
The latest release of the University of Oregon Economic Indicators provides two measures of economic growth: the UO Index, which incorporates several leading indicators, and a more comprehensive measure, called the Measure of Economic Activity, that relies on a greater variety of indicators. Both measures show that Oregon's economy improved in August.
The growth in the UO Index was driven by an improved labor market, as initial unemployment insurance claims dropped and employment services payrolls rose. The Oregon Measure of Economic Activity compares current growth against a historical average growth rate which, in absence of a labor dispute at the Port of Portland, would have read near that average growth rate in August.
Click here to read the full report, authored by University of Oregon Economist Tim Duy.