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Oregon Starts Year On Solid Economic Footing

Oregon’s economy started the year on solid footing, according to the University of Oregon Index of Economic Indicators.

The index gained modestly in January, rising .1 percent.

Initial unemployment claims were down, while payrolls were up: both positive directions for job growth.

Tim Duy, the director of the Oregon Economic Forum, says the numbers are consistent with job growth that’s, “… a little bit above average,” he said.

“We’ve seen a real recovery comparative to where we were two or three years ago, and certainly from where we were during the depth of the recession,” said Duy. 

“This last month we have data on, for January, what we saw is that three of the four sectors, broad sectors of the recovery, all showed above average growth.”

Manufacturing improved, as did construction and household spending.  The only area to drag was the service sector, particularly in financial activities, government, education and health services.

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