This edition of the Graph of the Week brings back an oldie but a goodie: the bubble graph. This shows each industry’s employment change in Oregon over the past year (horizontal axis) and over the past 3 months (vertical axis). You want to be in the upper right hand quadrant, meaning jobs have been added both in recent months and in the past year. The diagonal line indicates equal growth rates over both time periods. For example, the red star which represents total nonfarm employment in Oregon has increased 2.6 percent over the past year and 2.6 percent over the past three months at an annualized rate, thus is falls on the line. Most industries are in the upper right hand quadrant — that’s good — and about half are above the diagonal line as well — that’s even better as it indicates these industries are accelerating.
Overall most industries are in a good place in terms of growth rates, and given that the state is getting there, it is expected to see this acceleration.