Oregon's Economy

[Derek]

I'm glad to see Adidas making due with what the limited space they have. I applaud them for not going the Nike route with a giant suburban campus.

[innovativethinking]

Originally Posted by Derek

I'm glad to see Adidas making due with what the limited space they have. I applaud them for not going the Nike route with a giant suburban campus.

Well keep in mind this isn't Adidas world headquarters we're talking about here. So this North American division doesn't need to be as big as you would your main headquarters.

[Derek]

Originally Posted by innovativethinking

Well keep in mind this isn't Adidas world headquarters we're talking about here. So this North American division doesn't need to be as big as you would your main headquarters.

Yeah I know, but they could've chosen another location in the suburbs back whenever it was they chose North Portland, so I'm glad they picked it. Haha

[downtownpdx]

Exactly^^ and I'm sure the employees appreciate being in a fun neighborhood with easy mass transit than Beaverton.

[MarkDaMan]

Oregon has nation's hottest economy: Bloomberg study
By Joseph Rose | The Oregonian/OregonLive
on February 09, 2016 at 12:12 PM, updated February 09, 2016 at 12:17 PM

http://www.oregonlive.com/trending/2...art_river_home

As if people need another reason to move to Oregon, the state's economy became an economic dynamo in 2015, according to a new Bloomberg analysis.

"Oregon is the picture of economic health," the report states.

In fact, Oregon, the nation's 27th-largest state, had the best performing economy in the nation based on employment, home prices, personal income, tax revenue, mortgage delinquency and publicly traded equity of its companies during the first three quarters of the year, according to Bloomberg.

Here's how the financial website's Matthew A. Winkler views Oregon's economic progress:

By punching well above its weight in half a dozen comparisons that make up Bloomberg's Economic Evaluation of States, Oregon's economic health index rose the most through the first three quarters of 2015, according to the most recent Bloomberg data. The closest two rivals for No. 1, North Carolina and Michigan, were at least a full percentage point behind Oregon, failing to achieve the same consistency of improvement across the six business, financial and industrial values in the index.

Only California and Utah exceeded Oregon's 4.35 percent increase in personal income in the nine months ended Sept. 30. Colorado and Nevada alone matched the 9.12 percent increase in Oregon home prices. Oregon benefited from an 11 percent increase in tax revenues, better than 41 other states. Oregon created more jobs than 44 states, with employment growth of 2.73 percent. Mortgage delinquency fell 25 percent during the first three quarters of 2015, better than 45 states, according to Bloomberg data.

Gov. Kate Brown told the publication that she hopes the impressive growth continues as young innovators and entrepreneurs move to the fast-growing state of 4 million people for its high quality of life.

The analysis singled out several small and large firms for impressive performance, including StanCorp Financial Group and Puppet Labs. Unimpressive unemployment numbers have also proven to be more positive than they first appeared, the analysis shows.

What's more, Beaverton-based Nike had the top performing stock in the Dow Jones Industrial Average in 2015, Bloomberg reported.

Bloomberg concludes: "That's a snapshot of Oregon missing in the headlines from Burns."

— Joseph Rose
503-221-8029
jrose@oregonian.com
@josephjrose

[cab]

Study shows Portland jobs outpacing national trend

The Portland area just missed the top 10 U.S. cities for actual job growth compared to expected job creation. In a study just released by recruiting software company CareerBuilder and subsidiary Economic Modeling Specialists International, Portland ranks 12th among the 150 metropolitan areas included.... http://pamplinmedia.com/but/239-news...national-trend

[downtownpdx]

Oregon's unemployment rate sinks to an all-time low

Andy Giegerich
Digital Managing Editor
Portland Business Journal

Oregon's jobless rate has dropped to the lowest point ever in the 40 years since the state began tracking comparable records.

That figure, of 4.5 percent, in March, marks a significant drop even in the one-month period prior, in which Oregon logged a 4.8 percent rate.

It's also a big drop from March 2015, when the state logged a 5.7 percent rate.

Oregon's rate further fell well below the U.S. rate of 5 percent.

Some 1.94 million residents were employed last month, up from 1.84 million in March 2015.

"Rapid job growth and a historically low unemployment rate mean that Oregon's labor market is stronger than it's been in decades," said state employment economist Nick Beleiciks, in a release.

continues ...http://www.bizjournals.com/portland/...-time-low.html

[downtownpdx]

Forecast: Oregon's economy going 'full-throttle'

Denis C. Theriault | The Oregonian/OregonLive
on June 03, 2016 at 10:48 AM, updated June 03, 2016 at 2:18 PM

Oregon's economy, buoyed by across-the-board increases in jobs and wages, is going "full-throttle," a panel of legislators learned Friday in Salem.

And while concerns remain about how the state's lack of affordable housing might affect the economy, the bottom-line financial figures give Oregon one of the strongest state economies in the country, according to a new economic and revenue forecast.

"It's all good news from an economic perspective," said Josh Lehner, an Office of Economic Analysis economist. "The economy is doing really well in Oregon today."

Lehner, along with fellow state economist Mark McMullen, walked legislators through the new forecast, which looks at particulars such as employment trends and long-term growth projections.

Current gains in some sectors are so robust, Lehner and McMullen said, that they aren't considered sustainable.

Over the past two years, for instance, Oregon has added about 5,000 new jobs per month. That's far more than the 2,000 jobs needed to keep pace with population growth.

http://www.oregonlive.com/politics/i..._2box_business

[maccoinnich]

Was just thinking that there sure is a lot of government spending on buildings happening now (or soon):

• Rebuild of Grant, Roosevelt, Franklin, Lincoln, Madison and Benson High Schools
• Rebuild of the Portland Building
• Multnomah County Central Courthouse
• Multnomah County Health Department HQ
• OHSU Knight Cancer Research Building
• OHSU Center for Health and Healing South
• The Portland Housing Bureau's big increase in spending
• PSU School of Business Administration
• PSU Viking Pavilion

Collectively that represents billions of dollars in spending. I have no idea when the next recession will occur, but if it's any time soon I hope some of these projects can counteract the contraction in private spending that's likely to occur.

[subterranean]

[Pavlov's Dog]

Thanks. The unemployment rate is especially encouraging. Surely something could be done to get homeless people (is maybe 50% of them realistic?) into jobs and into homes.

Do we have metro area employment rates? I assume Portland has a high labor participation rate due to a youngish population but it would be interesting to see a comparison to other cities both in the US and abroad.

[RED_PDXer]

Originally Posted by Pavlov's Dog

Thanks. The unemployment rate is especially encouraging. Surely something could be done to get homeless people (is maybe 50% of them realistic?) into jobs and into homes.

Do we have metro area employment rates? I assume Portland has a high labor participation rate due to a youngish population but it would be interesting to see a comparison to other cities both in the US and abroad.

We need drug treatment before we can expect any of the homeless can enter the workforce. From what I've seen, they are almost entirely fucked up on something.

[downtownpdx]

Forbes ranks Portland 'Best Places for Business and Careers' in the country

By Lizzy Acker lacker@oregonian.com
The Oregonian/OregonLive

Look around. Are you in Portland? Are you in the bathroom or at a meeting or on a conference call, reading this article from a computer or device while technically "at work"? If so, you could be part of the reason for the latest superlative bestowed upon Stumptown.

On Tuesday, Forbes released their list of "The Best Places for Business and Careers 2017" and at the top of that list? Duh. Portland.

According to Forbes, what's bad for traffic is actually great for the city.

"The influx of educated young adults has been a boon to the $157 billion economy, with household incomes up 4 percent annually since 2011 and unemployment falling below 4 percent from a peak of 11.3 percent in 2009," Forbes writes. "Portland now has the ninth-highest concentration of highly educated millennials based on data from Experian."

continues... http://www.oregonlive.com/portland/i...t-readbusiness

[Natural]

Great article from Forbes but......don't know how many Forumers caught an article from the Oregonian 3 weeks back stating that Oregon's August Employment Numbers fell 9500 jobs and the unemployment rate has risen the last couple of months after 8 years of record growth. I suspect that Oregon's economy has peaked and now showing signs of cyclical regression. I don't want to come across negative, but if this trend continues, there is the likelihood that some of the proposed projects will be either cancelled, postponed, or scaled back.

Oregon employment falls for the first time in months

By Mike Rogoway mrogoway@oregonian.com
The Oregonian/OregonLive

con't....
http://www.oregonlive.com/business/i...ls_for_th.html

[MarkDaMan]

Oregon job growth picked up again in December, and state unemployment hit a record low in 2017
Updated 10:01 AM; Posted 10:00 AM
By Mike Rogoway mrogoway@oregonian.com
The Oregonian/OregonLive

http://www.oregonlive.com/business/i...art_river_home

Oregon employers ended 2017 on a high note, adding 14,700 jobs in December, according to data out Wednesday from the Oregon Employment Department.

State economists said that reflects a return to robust growth after a slowdown in the late summer and early fall.

Oregon's job market is the strongest on record, with the average unemployment rate for 2017 at 4.0 percent. That's the lowest full-year total ever, handily besting the prior record – 4.9 percent unemployment in both 1995 and 2016.

...(continues)

[subterranean]

Oregon had the second fastest job growth rate in 2017. As a percentage, Washington County was first, but second to Multnomah in real job growth.

[downtownpdx]

Oregon Insight: Portland enjoying exceptional income growth

--Good news, especially for a state that relies so heavily on income tax revenue.

Posted Oct 06, 2019
By Mike Rogoway | The Oregonian/OregonLive and David Cansler | The Oregonian/OregonLive

Portland has long been a middling city for personal income, with earnings in the same league as ho-hum metropolises such as Minneapolis, Albuquerque and Indianapolis.

No longer. Portland’s gains over the past decade have been remarkable.

Oregon state workforce analyst Christian Kaylor noted last week that new Census data shows Portland’s median household income shot up by 34% between 2005 to 2018. Kaylor found the city, which had been the nation’s 22nd wealthiest, was No. 8 last year with a median household income of more than $73,000.

It’s not just Portland. Kaylor said Oregon’s income growth was the nation’s fourth-fastest during that stretch, surpassed only by Washington, Utah and North Dakota.

The Oregonian/OregonLive reported last month that poverty rates in the Portland area were down significantly last year, according to the new Census data. And incomes were up across disparate rural and urban areas and across demographic groups. Oregon state economist Josh Lehner found poverty rates among communities of color are at their lowest point in decades.

Oregon is enjoying a period of historic economic growth, with the jobless rate holding steady around 4%, core industries like technology expanding and smart young migrants bringing fresh skills to the state.

(continues...) https://www.oregonlive.com/business/...me-growth.html

[subterranean]

What income is considered ‘middle class’ in Portland? New study reveals
by Jashayla Pettigrew

PORTLAND, Ore. (KOIN) — Data from the Pew Research Center shows that America’s middle class has been declining over time, dropping from 61% of the population in 1971 to just 50% in 2021. For that reason, a new study shows exactly how much someone needs to earn to be considered middle class in the U.S.’s biggest cities, including Portland.

Source: https://www.koin.com/news/oregon/sma...s-in-portland/

Somehow my household is pulling in 2.5x median, living in a low-income neighborhood 10 miles out from downtown, and still feeling broke. The math here is feeling less and less worth it and the only thing truly keeping me on the west coast is my wife and her family.

[NOPO]

Originally Posted by subterranean

Source: https://www.koin.com/news/oregon/sma...s-in-portland/

Somehow my household is pulling in 2.5x median, living in a low-income neighborhood 10 miles out from downtown, and still feeling broke. The math here is feeling less and less worth it and the only thing truly keeping me on the west coast is my wife and her family.

With Kotek and local activists, hopefully our housing shortage will actually be met with dense, abundant housing so cost of living will go down. You may leave, but major cities are all grappling with this. And if you move to a less desirable place, well, I feel for you. But I do hope we fix our housing shortage so you decide to stay.

[downtownpdx]

Intel Plans Massive Expansion in Oregon: D1X and D1A to Be Upgraded

https://www.anandtech.com/show/19992...to-be-upgraded

Intel has filed a permit application that outlines significant expansion plans for its campus near Hillsboro, Oregon. According to filings submitted to state regulators, the tech giant's ambitious proposals include a fourth expansion phase for the D1X research facility and an upgrade of the older D1A fab situated on the same 450-acre property.

...

This proposed expansion represents a significant milestone, not just for Intel but for Oregon as well. While the investment may not match the tens of billions earmarked for new campuses in Arizona and Ohio, it would nonetheless constitute one of Oregon's largest capital projects to date. This would likely result in the addition of hundreds or possibly thousands of new jobs to Intel's workforce in the state, reaffirming Intel's commitment to ongoing investment in its Oregon research endeavors.