1. Oregon’s Employment Benchmark A Preliminary Estimate of July 2009 – March 2012 Revisions Prepared By: Josh Lehner Oregon Office of Economic Analysis

2. Benchmarking Employment series revisions based on more information and inclusion of QCEW data Previously revisions covered the October – September period (q4 through q3) This year, BLS changed to benchmarking only through q2 (October - June) Future revisions are likely to cover the q3 through q2 timeframe Currently state estimates are one full year off of benchmark (CES) Vertical line represents the last benchmarked data

3. CES Now Playing Catch Up 2011q4 and 2012q1 stronger than thought Unfortunately the slowdown in mid-2011 is accurate What about 2012q2?

4. All Private Sector Growth In March 2012, CES is 15,900 too low (1.2%) 2012q1, CES is 13,400 too low on average (1.0%)

5. Growth Essentially Matches US

6. Individual Industry Revisions

7. Goods Producing: Unchanged or Up

8. Trade: Steady as She Goes - Retail continues to grow, just about inline with CES - Wholesale growth slightly lower than CES, but solid pace - T/W/U bouncing but with steady trend

9. Professional Jobs Added - Professional and Business Services skyrocketing - 9,200 more than thought (SA) - 7,700 more (NSA) - 2/3 rd Admin + Waste - No end in sight for Information and Financial Activities?

10. Health Slowing? Others Slow & Steady

11. Public Sector Revisions - Slightly more Federal employees than initially estimated -Local Gov’t CES looks accurate - State revisions expected to be slightly negative