Portland Economic Indicators September.pdf - Google Drive

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As the region attracts new jobs and workers, a. question naturally arises: Do the new jobs pay. well? The new US Census
Portland Economic Indicators Unemployment Rate - Portland Metro August 2010 - August 2014

QUALITYINFO.ORG Employment Growth - August 2014

Recent years have seen a steady decline in the regional unemployment rate of about four points in the last four years. That trend continues with the unemployment rate down about a full point over the last 12 months.

3%

10.4%

2.4%

Portland

Almost all major private sector industries are growing, with the Construction industry putting up the strongest growth. Unusually, Multnomah County is showing some of the strongest growth in the region with 11,100 new jobs over the last 12 months, significantly more than Washington County (+2,600) and Clackamas County (+1,300) combined.

US 9.3%

2%

8.3% 1.0%

7.2%

Labor Trends

Increase on a year earlier

0.9%

1%

6.1%

0%

2010

2011

2012

2013

Multnomah County

2014

Population & Worker Growth

Washington County

Clackamas County

Population Growth : Workforce Age

The US Census released annual statistical data for 2013 in September, painting a picture of how demographics are changing as the region recovers from a deep recession.

2010 to 2013 Growth in Population Age 18 to 65

25,705

The City of Portland stands out with the vast majority of population growth occurring among the working age population, (age 18 to 65), since 2010. Conversely, the vast majority of population growth in Clackamas County is age 65 and over. In Clark and Washington County, about half the population growth is age 65 and better. Every county in the region has seen an increase in the number of residents who are working since 2010. Again, the City of Portland stands out with relatively faster growth in the working population. This suggests residents of the City of Portland are recovering from the recession relatively faster, though these workers may commute outside the city for their jobs.

Pop Growth

23,252

9.6%

7.1%

16,773

6.3% 12,223

11,372 7,720 3,647

City of Portland Washington County

Clark County

Clackamas County

Average Income Median Income, Full Time Workers by Residence 2010 through 2013, inflation adjusted Washington County

$51,740

$50,101

$52,000 Clackamas County

2013 $49,616

$48,966

$50,000

$47,855 $48,000

Clark County

$45,698 $46,000 City of Portland

Clackamas County

Washington County

Clark County City of Portland

8.4%

20,412

Median Income, Full Time Workers by Residence 2010 and 2013, inflation adjusted

$50,207

2010 to 2013 by Worker Residence

Growth 18-64

Average Income

2010

Worker Growth

City of Portland Washington County

Clark County

Clackamas County

Income As the region attracts new jobs and workers, a question naturally arises: Do the new jobs pay well? The new US Census data allows us to look more closely at how median average wages are changing. In Clackamas County, wages (adjusted for inflation) for residents working full time are unchanged at about $50,000 a year since the recession in 2010. Workers living in Washington and Clark County have seen a noticeable decline in real wages. Conversely, wages for workers living in Portland have increased strongly in the economic recovery.

$44,000

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$42,000

Christian Kaylor [email protected]