Oregon's GDP up, but that doesn't mean more jobs

Oregon Public Broadcasting

Oregon's gross domestic product last year was much higher than previously believed -- according to a new report out of the California Lutheran University.

Economists originally thought Oregon's GDP grew at about 3.5. percent in 2010. But Bill Watkins of California Lutheran University says revised figures show growth was really more than eight percent.

"They were amazing. That's truely phenomenal for any place in the United States and it's the sort of thing you expect to see in a developing country. Very interesting. Big change," Watkins said.

Gross domestic product measures the value of goods produced and services provided.

While Oregon's GDP grew, that activity didn't create a large number of jobs.

For example, Facebook, Apple and Google built server farms in Prineville and the Dalles. But those farms don't need many employees to run them.

Oregon's unemployment rate still stood at 9.5 percent at the end of 2010.

This story originally appeared on Oregon Public Broadcasting.


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