EUGENE, Ore. (AP) — The monthly index of economic indicators tracked by the University of Oregon improved slightly in September as job growth remained weak in Oregon.
The statewide index rose 0.2 percent to 86.2 for the first increase since June. The index is based on a standard of 100 set in 1997 for a group of leading indicators.
University of Oregon economist Tim Duy (DOO-ee) said Monday the September uptick was partly because initial unemployment claims fell sharply to their lowest levels since March, a reversal of the upward trend of the past five months.
Duy said the improvement suggests the labor market firmed up in September.
But he said it’s too early for any dramatic improvement because claims remain well above levels consistent with sustained job growth.
