If recent economic indicators continue to hold true, graduating students may have a tough time finding a job come June.
Some numbers in the University of Oregon’s latest Index of Economic Indicators sank, revealing the local economy is suffering.
The index fell 0.9 percent in January, according to the report. The six-month annualized decline of 3.7 percent broke the record for the largest decline since the 2001 recession.
Economics professor Tim Duy, the author of the index, said some numbers are telling of the state economy.
Residential building permits in January fell to the lowest level in about 12 years, according to the report. Help wanted ads, initial unemployment claims and trucking activity also declined in January.

“It’s consistent with what we think of near-recession conditions,” he said. “I think that economic activity both nationally and locally has slowed to a crawl.”
Duy said he is not describing the economy in a recession state quite yet.
“It’s to a point where we’re at a tipping point, where we could go from the state we’re in to a temporary slowdown,” Duy said. “We could easily see it flipping into a recession, and there’s a growing concern for that outcome.”
Duy said students should be aware there is a slowdown in hiring.
“That doesn’t mean there aren’t jobs out there, but it suggests that the job search will be extended,” Duy said.
In the past month, Weyerhaeuser Co. closed a Junction City veneering plant, and Semperian plans to close a Eugene call center in April. Last week, Junction City RV maker Country Coach announced it will lay off some of its workforce.
Clarice Wilsey, associate director for career development at the Career Center, said students should not panic.
“It’s really easy to panic and start this doom-and-gloom thing, but it’s important to take control and empower yourself in the job search,” Wilsey said. “We at the Career Center can help students empower themselves.”
She added those who prepare and have patience will have more success.
“You can find a good position. It just might take a little bit longer,” Wilsey said.
The economic slowdown has not affected campus job programs.
Amanda Devereux, a campus interview program coordinator, said in an e-mail that the Career Center has about the same number of companies recruiting on campus when compared to last year.
“We have had some cancellations, but most of them are due to a lack of applicants (and) not an economic downturn,” she said.
Along with campus interviews, there may be more room for some optimism with construction projects planned in the area.
“I think it’s difficult to take any kind of prediction and apply it across a diverse collection of business segments in Eugene, but I think folks here are cautiously optimistic,” said Dave Hauser, president of the Eugene Area Chamber of Commerce. “There are national signals that suggest a slowdown, but there are reasons for local folks to be encouraged.”
Hauser pointed to construction projects in the Eugene-Springfield area, including the new University basketball arena, which is projected to be the most expensive college basketball arena in the country.
PeaceHealth is constructing a new hospital in Springfield, and it will remodel its Hilyard Street hospital near campus. McKenzie-Willamette Medical Center may also build a new hospital in Eugene if it can find a site.
“Those are just a few examples of construction projects that will continue to stimulate the local economy,” Hauser said.
To see the index, those interested can visit http://uoregon.edu/~oefweb/home.
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