Oregon business index down for July.Byline: Sherri Buri McDonald The Register-Guard The picture in July was a little cloudier for small businesses in Oregon, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. an index released Thursday by LibertyBank, which is based in Eugene. A tighter labor market labor market A place where labor is exchanged for wages; an LM is defined by geography, education and technical expertise, occupation, licensure or certification requirements, and job experience , a more volatile national economy and greater anxiety among consumers and investors drove the index down to 86.6 in July, compared with 86.7 in June, according to LibertyBank. The index measures business conditions from the perspective of small-business owners or managers in Oregon. The index uses 1997 as its base year of 100; the higher the number, the better the outlook for small businesses. `Anxiety levels have risen considerably in recent weeks as a result of problems in various high-risk credit markets,' LibertyBank economist Jeff Thredgold said. Another source of anxiety is homeowners financially strapped strapped adj. Informal In financial need: We are strapped for cash right now. strapped Adjective strapped for Slang by adjustable rate mortgages This article is about the US mortgage type. For an international perspective, see Variable rate mortgage. An adjustable rate mortgage (ARM) is a mortgage loan where the interest rate on the note is periodically adjusted based on an index. , he said. "Many people who once signed into low-interest mortgages are now seeing their interest rates skyrocket sky·rock·et n. A firework that ascends high into the air where it explodes in a brilliant cascade of flares and starlike sparks. intr. & tr.v. and are unable to make their payments," he said. If the anxiety level continues to climb, the Federal Reserve could intervene intervene v. to obtain the court's permission to enter into a lawsuit which has already started between other parties and to file a complaint stating the basis for a claim in the existing lawsuit. , Thredgold said. Another factor contributing to the index's poorer showing in July is the state unemployment rate, which carries the most weight of all the factors in the index. Estimates put it at 5.1 percent in July, which is up from 5 percent in June but down from 5.4 percent in July 2006. A falling unemployment rate is considered a negative factor in the index because lower unemployment means a smaller pool of qualified employees for small businesses to hire. |
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