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Oregon hints at weaker job report

November 25, 2014 --

chart-duy-nov14University of Oregon Regional Economic Indexes
By Tim Duy
Oregon Economic Forum
University of  Oregon

Oregon Economic Indicators:

The Oregon Measure of Economic Activity fell in September while the University of Oregon Index of Economic Indicators rose. Highlights of the report include:

- The Oregon Measure of Economic Activity fell in September while the three-month moving average, which smooths month-to-month volatility in the measure, rose to 0.06 on the back of a substantial upward revision to the August data.
- Weaker employment data in comparison with earlier this year continues to weigh on the measure, although it is important to recognize that employment data can be volatile and subject to large revisions. For example, the “other services employment” component made a significant negative contribution that represents a reversal from exceptionally strong growth earlier this year. Final revisions may smooth this volatility.

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