The new Census data shows that the recovery and expansion has now reached all corners of the Oregon economy. Not all industries, segments of the population, or regions are in the same place given each regional business cycle was a bit different. However, we are now seeing gains across the board. The trajectory, at a minimum, is pointing in the right direction.
One place where the improvements really stand out is in the Portland metro area. It makes sense given job growth returned first to the large metros across the country, so they have been in expansion the longest. That said, when stepping back and looking at the business cycle as a whole, and comparing the 100 largest metro areas in the country, the gains in the Portland region are considerable. Portland’s growth has been transformational, and not just when it comes to the apartment boom in the urban core. To date, it is clear that Portland is transitioning as it pulls away from its former economic peers.
Below is a short, high level summary of these findings along with a more complete slide deck for those interested.
