Key Indicators Point To A Better National And Local Economy

Some key financial signs of the times reveal the economy is doing better.

From the Dow Jones hitting record highs, to favorable retail sales, and a drop in the unemployment rate, it’s good news.

Nationally employers added 198,000 jobs last month, and the national unemployment rate dropped from 7.9% in January to 7.7% in February. That’s the lowest monthly rate since 2008.

Jackson County’s latest figures are for January. Although the start of the year saw some holiday season job losses, from January 2012 to January 2013 the numbers are up.

Guy Tauer, Economist with the Oregon Employment Department office in Medford, said in Jackson County the health industry added 300 jobs in the last year. Leisure and hospitality jobs are also up about 220 jobs.

One local sector that’s not keeping pace with the national trends is construction. While it’s up nationally, that’s not the case in Southern Oregon. Both Jackson and Josephine Counties saw job losses in the construction industry. However, with home prices on the rise locally, the hope is construction could rebound as a result.