Portland Economic Trends Oregon 3 Employment Florida 3 - - PowerPoint PPT Presentation

Portland Economic Trends

Employment Growth by US State

Dec 2015 to Dec 2016

• 2.7
• 1.8
• 1.4
• 1
• 0.7
• 0.3
• 0.3
• 0.2
• 0.1

0.1 0.2 0.3 0.3 0.4 0.5 0.5 0.6 0.6 0.6 0.7 0.7 0.8 0.8 0.8 0.9 1 1 1.1 1.2 1.3 1.5 1.7 1.7 1.8 1.8 1.8 1.8 1.8 1.9 2 2 2.1 2.2 2.2 2.3 2.8 2.9 2.9 3 3 Wyoming Alaska North Dakota Mississippi Kansas Maine Oklahoma Louisiana Connecticut West Virginia Arkansas New Jersey New Mexico Vermont Illinois Pennsylvania Delaware Iowa Ohio Indiana Kentucky Nebraska Rhode Island Wisconsin Alabama Maryland Virginia New York Arizona Minnesota Tennessee Michigan South Dakota Colorado Hawaii New Hampshire South Carolina Texas North Carolina Idaho Massachusetts California District of Columbia Georgia Missouri Utah Nevada Washington Florida Oregon

Job Growth by Metro

2010 to 2016

Portland 161,500 Eugene 22,600 17,810 16,000 9,430

The Portland Metro region has added 161,500 new jobs in the last six years. That’s 2 times more jobs than the other six Oregon Metros combined.

Salem Bend Medford

Albany Corvallis Grants Pass

• 2%
• 2%

0% 0% 0% 1% 1% 1% 1% 1% 2% 2% 2% 3% 3% 3% 3% 3% 3% 4% 4% 4% 4% 4% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 6% 6% 6% 6% 7% 7% 7% 7% 8% 8% 8% 8% 9% 9% 10% 14% Detroit San Jose Cleveland Baltimore Oklahoma City Pittsburgh Albuquerque Columbus Memphis Tucson Omaha Kansas City Fort Worth Louisville Indianapolis Honolulu Tulsa

• St. Louis

Irvine San Antonio Nashville Orlando Las Vegas Milwaukee Charlotte Philadelphia Houston New York Tampa Chicago Washington DC Los Angeles Denver Salt Lake City Dallas El Paso Minneapolis Paradise, NV Jacksonville Seattle Sacramento San Diego Austin Atlanta Phoenix Raleigh Boston San Francisco Portland Miami

Employment Growth by US City

2013 to 2015

50 Largest US Cities US Census, ACS Table S0804

Portland enjoyed the second fastest job growth rate among the 50 largest US cities. That’s more than twice the growth rate of the United States. The city of Portland added 42,062 jobs within the city limits from 2013 to 2015. That’s more than Salt Lake City, Las Vegas and Milwaukie combined.

• 10%
• 8%
• 7%
• 6%
• 5%
• 4%
• 4%
• 3%
• 3%
• 2%
• 1%

0% 1% 1% 1% 2% 2% 3% 3% 3% 4% 4% 4% 4% 4% 5% 5% 5% 5% 5% 6% 6% 7% 7% 8% 8% 8% 9% 10% 10% 10% 10% 11% 11% 14% 18% 18% 19% 21% 23% Las Vegas Memphis Detroit Albuquerque New Orleans Tucson Virginia Beach Fresno Jacksonville Long Beach Indianapolis Charlotte Wichita Miami Mesa Los Angeles Cleveland Sacramento San Antonio Colorado Springs Dallas San Diego Chicago Tulsa Houston Milwaukee Raleigh New York Columbus Phoenix Baltimore Oklahoma City Fort Worth Boston Omaha Minneapolis Kansas City Louisville San Jose Oakland Philadelphia Nashville Atlanta El Paso Washington DC San Francisco Denver Portland Austin Seattle

Median Household Income Growth by US City 2010 to 2015

50 Largest US Cities US Census, ACS Table S1901

Portland enjoyed the third largest increase in household income among the 50 largest US cities. That’s more than seven times the growth rate of the United States at 2.5%. (Inflation adjusted.) That increase of $9,604 from 2010 to 2015 brought Portland from being the 17th wealthiest city to the 8th among the 50 largest US cities.

55% 37% Portland Metro 20 Metro Composite

Housing Price Index S&P CoreLogic Case-Shiller

October 2011 to October 2016

Population Growth US City

2010 to 2015

US Census, ACS Table PEPPANNRES

The population of the city of Portland grew by 8% from 2010 to 2015, slightly faster than the 6.7% average growth rate among the 50 largest US cities.

• 5%

0% 1% 1% 1% 2% 2% 2% 2% 3% 3% 3% 3% 3% 3% 4% 4% 5% 5% 5% 5% 5% 6% 7% 7% 7% 7% 7% 7% 7% 7% 8% 8% 8% 8% 8% 8% 9% 9% 10% 10% 10% 11% 11% 12% 12% 12% 12% 13% 14% Detroit Baltimore Memphis Milwaukee Chicago Wichita Tucson Albuquerque Long Beach Philadelphia Omaha Tulsa Louisville Virginia Beach Kansas City Indianapolis New York El Paso Los Angeles Fresno Sacramento Jacksonville Arlington Las Vegas San Diego Oakland Mesa Minneapolis San Francisco San Jose Boston Columbus Phoenix Portland Nashville Dallas Oklahoma City Colorado Springs Houston Atlanta Miami San Antonio Raleigh Washington DC Fort Worth Charlotte New Orleans Seattle Denver Austin

1% 4% 5% 6% 9% 10% 11% 11% 12% 12% 12% 12% 12% 13% 13% 13% 14% 14% 15% 15% 16% 16% 16% 17% 17% 18% 18% 20% 20% 21% 21% 21% 21% 22% 22% 22% 23% 23% 23% 23% 24% 26% 27% 28% 28% 28% 29% 34% 34% 37% Albuquerque Plano Virginia Beach Memphis Louisville Long Beach Sacramento San Antonio Jersey City Indianapolis Arlington Kansas City Scottsdale Los Angeles Chicago Omaha Minneapolis Milwaukee Phoenix Fort Worth Colorado Springs Oakland Las Vegas New York San Francisco Oklahoma City Houston Raleigh Boston San Diego Dallas Atlanta El Paso Charlotte Columbus San Jose Tampa Nashville Seattle Fremont New Orleans Jacksonville Portland Baltimore Irvine Philadelphia Washington DC Denver Miami Austin

US Average

College Graduates

• f Working Age

Growth by US City

2010 to 2015 The city of Portland added 41,130 people with college degrees, between the age 25 and 65, from 2010 to 2015. That growth rate of 27% is the 8th fastest among the 50 largest US cities. The US growth rate is 10%. Portland’s growth in this demographic is more than Indianapolis, Milwaukie and Minneapolis combined.

Multnomah County Economy Stats

• 20% of Oregon’s population (790,294 in 2015)
• 0.5% of Oregon’s area
• 27% of Oregon’s jobs (506,700 in Nov. 2016)
• 29% of Oregon’s payroll ($27.2 Billion in 2016)
• 22% of Oregon’s state personal income tax
• 40% of jobs created in Oregon in the last 10

years (52,200 jobs. 12% job growth versus 6% for Oregon)

• 20% of people in poverty in Oregon (121,764 in 2015)

77700

• Employment Growth

by County

2009 to 2016

Multnomah Co 77,700 Clackamas Co 21,800 Washington Co 51,900 Marion & Polk Deschutes Lane Jackson Benton Linn

• 5,000

10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,000 Less than $10,000 $10,000 to $14,999 $15,000 to $24,999 $25,000 to $34,999 $35,000 to $49,999 $50,000 to $74,999 $75,000 to $99,999 $100,000 to $149,999 $150,000 to $199,999 $200,000 or more

Median Household Income is $60,892

Households with incomes of more than $100,000 grew by 50%. Households with incomes of less than $35,000 declined by 20%. Median tier households, with incomes between $50,000 and $75,000 grew by 2%.

Household Growth by Income Level

2010 to 2015

+13,198 +18,051 +1,000

• 16,255
• 6,855

US Census, ACS Table S1901

City of Portland

Portland Metro Industry Growth

1 Year Trend – Feb 2017

1.2% 1.8%

• 2.5%

3.5% 2.3% 1.4% 9.8% 1.9% Government Leisure & Hospitality Manufacturing Health Care & Social Asst. Retail Professional & Business Services Construction All Industries

Portland Metro Industry Growth

10 Year Trend – Feb 2007 to Feb 2017

10% 23%

• 5%

32% 9% 25% 1% 12% Government Leisure & Hospitality Manufacturing Health Care & Social Asst. Retail Professional & Business Services Construction All Industries

Job Growth by Industry Wages

March 2017 / 2007 Portland Metro

Average Wage $1,000 Job Growth Industry High Wage High Tech Manufacturing $ 133 12% Information $ 79 Professional and Technical $ 80 Financial activities $ 71 Wholesale Trade $ 70 Ambulatory health care $ 63 Middle Wage Construction $ 59 4% Government $ 56 Manufacturing (non High Tech) $ 55 Low Wage Employment services $ 37 15% Retail trade $ 31 Nursing and residential care $ 28 Leisure and hospitality $ 21

High Wage Industries

Portland Region Average Wage and Employment Growth from August 2010 to August 2016

All Industries $ 55,523 17% Computer and electronic product manufacturing $ 132,712 10% Management of companies and enterprises $ 132,421 27% Computer systems design and related services $ 109,357 17% Software publishers $ 107,623 42% Scientific research and development services $ 92,563 9% Architectural, engineering, and related services $ 78,984 19% Ambulatory health care services $ 68,138 17% Accounting, bookkeeping, and payroll services $ 60,398 27% Specialized design services $ 59,968 29%

Employment Growth – Portland Region

Occupational Category 2010 to 2015

29% 10% 14% 10% 16% 21% 23% 33% 34% 15% 0% 10% 20% 30% 40% Food preparation and serving related Construction and extraction Production, transportation, and material moving Legal occupations Business and financial operations Life, physical, and social science Architecture and engineering Healthcare practitioner and technical Computer and mathematical Total

Population : 2010 to 2015

College Degree Age 25-64

12,316 7,309 10,918 34,820 25,667 33,503 53,596 78,510 139,711 195,071 Yamhill County Douglas County Linn County Deschutes County Jackson County Marion County Lane County Clackamas County Washington County City of Portland 1,622

• 2,465
• 1,040

8,828 543

• 947

1,205 13,494 18,882 41,130 15%

• 25%
• 9%

34% 2%

• 3%

2% 21% 16% 27%

Douglas Co Linn Co Marion Co

Population Growth

2010 to 2015 College Degree Age 25 to 64

City of Portland 41,130 Clackamas County Deschutes County Washington County

Jackson Co

44,574

These 9 counties have a population of 2.4 million. That’s 59% of Oregon’s population and 3.8 times the size of the City of Portland.

Lane Co Yamhill Co

$- $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 $100,000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Graduate Degree High School Diploma

• 10%

+8%

Bachelors Degree

• 5%

Median Earnings by Education

Portland Metro - Males

$100,000 + Income Workers

Census tracts where 1/3 or more of workers earn $100,000 +

$100,000 + Income Workers

Census tracts where 1/3 or more of workers earn $100,000 +

$100,000 + Income Workers

Census tracts where 1/3 or more of workers earn $100,000 +

$100,000 + Income Workers

Census tracts where 1/3 or more of workers earn $100,000 +

$100,000 + Income Workers

Census tracts where 1/3 or more of workers earn $100,000 +

$100,000 + Income Workers

Census tracts where 1/3 or more of workers earn $100,000 +

Workers Earning $100,000 +

2015

Multnomah Co 38,335 Clackamas Co 23,045 Washington Co 38,373 Marion Deschutes Lane Jackson Benton Linn

US Census ACS S2001

Average Income by Census Tract - 2015

Alameda $104 K Laurelhurst $105 K Pearl District $107 K Eastmoreland $106 K Riverwood $142 K Lake Oswego $119 K Bull Mountain $102 K Bethany $117 K Cedar Mill $130 K

Average Income by Census Tract - 2015

Gresham Golf Course $35 K Rockwood $32 K Eastport Plaza $33 K South Rockwood $34 K Lents $37 K Clackamas Town Center $33 K Downtown $34 K Milwaukie $49 K

• St. Johns

$49 K Cully $45 K King $45 K

People of Color

33% or greater

US Census 2015 5 year ACS : S0601

Poverty Rate

25% or greater

US Census 2015 5 year ACS

$21,972 $22,423 $23,050 $23,499 $23,793 $24,264 $24,590 $24,628 $25,892 $26,883 $31,618 $32,472 $33,014 $34,259 $36,004 Josephine Umatilla Linn Klamath Douglas Marion Jackson Polk Lane Yamhill Benton Deschutes Multnomah Washington Clackamas

Per Capita Income By Oregon County

2015 89% of Oregonians live in one

• f the 15 largest counties.

Multnomah is the 3rd wealthiest of the large counties.

Per Capita Income By Oregon County

2015

$21,972 $22,423 $23,050 $23,083 $23,499 $23,793 $24,264 $24,590 $24,628 $25,892 $26,883 $31,618 $32,472 $34,259 $36,004 $38,735 Josephine Umatilla Linn Multnomah - East Klamath Douglas Marion Jackson Polk Lane Yamhill Benton Deschutes Washington Clackamas Multnomah - West

Imagine we divide Multnomah County between “East” and “West” along 82nd Avenue. “West Multnomah” would be the wealthiest Oregon county with an average income 68% higher than “East County”. If it were a US state, it would be the 2nd wealthiest state. “East Multnomah” would be among the poorer counties, but with a population greater than Linn, Umatilla and Josephine

• combined. If it were a US state, it

would be the 49th wealthiest state, between West Virginia and Mississippi.

$53,122 $20,321

$73,959 $87,778 $57,657 $55,425 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 $100,000 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Mean Household Income East Portland vs. Rest of City of Portland