NW Natural, City of Portland, Metro, PGE, Clackamas County, and Port of Portland
Northwest Economic Research Center Publications and Reports
Economic indicators -- Analysis, Economic conditions -- Oregon -- Portland Metropoltan Area, Housing -- Oregon -- Portland Metro[politan Area
1 online resource (44 pages)
A new entry for the record books: Portland MSA employment expansion is the longest on record, having surpassed the 1990’s expansion last September. And we now sit in October and are one month shy of a decade of job growth. While the length of this expansion is impressive, if we compare the same length of time (9 years and 9 months) of this expansion with that of the 1990s, jobs increased by 33.6% in the 1990s while increasing 24.4% in the 2010s.
The Portland MSA recorded the 4th fastest percentage gains in household income in the country from 2007 to 2018. This long expansion has also benefited the population across the board— regardless of age, sex, race, and income status, all subcategories have, on average, seen economic gains. We do need to recognize that while this is good news, these gains have not been equally distributed, and higher-income households witnessed the greatest gains.
Clues as to how long this expansion will continue seem to be out of our hands here in the Portland MSA. Signs of global economic slowing, a national manufacturing slump, and geopolitical risks around the world abound, including one in Washington, D.C. NERC is not bold enough to forecast a recession. Our bottom line outlook is for near-term slower economic growth, with a heightened risk of recession.
One of the benefits of a long economic expansion that has been a bit elusive here has been affordable housing. Our feature article takes a close look at affordable housing and reasons why our metro area demonstrates this gap of availability.
Potiowsky, Thomas and Portland State University, Northwest Economic Research Center, "Portland MSA Economic & Population Outlook (October 2019)" (2019). Northwest Economic Research Center Publications and Reports. 41.