State small-business index shows small improvement.Byline: Ilene Aleshire The Register-Guard Conditions are improving for Oregon's small businesses, mainly because of a small increase in the state's unemployment rate, 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. LibertyBank's Small Business Index. "We've seen a pretty steady decline in Oregon Oregon, city, United States Oregon, city (1990 pop. 18,334), Lucas co., NW Ohio, a suburb adjacent to Toledo, on Lake Erie; inc. 1958. It is a port with railroad-owned and -operated docks. The city has industries producing oil, chemicals, and metal products. unemployment rates over the last three years, and in February we actually reached a six-year low of only 5.2 percent," bank economist Jeff Thredgold said. "The slight climb up to 5.3 percent unemployment bodes well for small business owners who have faced a difficult 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 in recent months." The bank's index rose to 89.6 in March, up from 89 in February. The index uses 1997 as its base year, with the index measuring 100 then. A higher index number means better conditions for the state's small businesses. The financial markets had anticipated that, based on signs in recent weeks that the U.S. economy is slowing, the Federal Reserve Board would likely cut short-term interest rates Short-term interest rates Interest rates on loan contracts-or debt instruments such as Treasury bills, bank certificates of deposit or commerical paper-having maturities of less than one year. Often called money market rates. by a quarter point in June, and by another quarter point in early August or mid-September, Thredgold said. Lower short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. borrowing costs would have provided another boost for small businesses. However, he said, job creation nationwide was strong last month, with a gain of 180,000 jobs. And the national unemployment rate fell to 4.4 percent, the lowest in five years. The strong national picture means borrowers aren't likely to see the Federal Reserve Board cutting short-term interest rates until the last three months of the year, Thredgold said. And, he cautioned, "A vocal minority of economists still expect the Fed to push its key interest rate higher in 2007's second half in order to confront lingering lin·ger v. lin·gered, lin·ger·ing, lin·gers v.intr. 1. To be slow in leaving, especially out of reluctance; tarry. See Synonyms at stay1. 2. inflation pressures." |
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