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Initial jobless claims fall to 8 year low

July 14, 2014 --

chart-duyjuly2014University of Oregon Regional Economic Indexes
By Tim Duy
Oregon Economic Forum
University of  Oregon

Oregon Economic Indicators:

Oregon posted another month of above average growth in May. Highlights of the report include:

- The Oregon Measure of Economic Activity rose to 0.69, compared to a revised 0.16 the previous month. The three-month moving average, which smooths month-to-month volatility in the measure, is 0.50 where “zero” for this measure indicates the average growth rate over the 1990-present period. All sectors contributed positively to the measure.
- Employment and hours worked components both indicated solid manufacturing activity. The construction sector gained on the back of somewhat above average level of housing permits. Low levels of initial unemployment claims continue to be a very positive factor in the household sector.

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