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]
