Home Archives July 2008 Rosy forecast sees 100,000 jobs on the horizon

Rosy forecast sees 100,000 jobs on the horizon

| Print |  Email
Tuesday, July 01, 2008

PORTLAND The current economy might be sinking, sucking down jobs and incomes with it, but at least one group is bullish on future employment growth.

Greenlight Greater Portland, a private economic development group, in concert with Global Insight, an international economic analysis firm, predicts that the greater Portland-Vancouver area will create 100,000 new jobs in the next five years.

“We have a bullish view of the Pacific Northwest,” says Jim Diffley, a managing director with Global Insight, because he says knowledge workers are attracted to the area, and businesses will follow the workforce they need. The growth areas include:

Professional and business services: 32,000 new jobs, for a total of 170,300. That includes adding 2,000 jobs between 2007-2008.

Financial services: 8,500 new jobs, with a slight decline seen in the next year, but rebounding in 2009.

Information services: 2,000 new jobs, a growth rate “second only to Seattle’s.”

Construction and natural resources: This sector is projected to lose about 2,700 jobs through this year, but rebound in 2009 and grow by 7.2%.

Other sectors with significant jobs gains, according to Diffley, will be trade and transportation (15,000); education and health (10,000); government (8,000); and leisure and hospitality (5,000).

The analysis also predicted that the gross regional product would grow 29% to $144 billion in the next five years, which it noted was higher than for cities such as San Jose, Seattle, Denver and Albuquerque.

The findings, issued in a report in June, also noted that the region added 88,000 jobs from 2002-2007 — more than in San Francisco, San Jose and Denver combined. The sectors that contributed to that included 17% from professional services, 17% from education and health services, 17% from construction and natural resources, and 4% from manufacturing.

Global Insight also provides analysis for the state, which in late May issued its most recent revenue forecast, saying revenues were stable: In the upcoming biennium, the state should have $17 billion in tax and lottery money to spend. At least until the effects of skyrocketing fuel and food costs kick in, just in time for the next forecast.


ROBIN DOUSSARD



To comment, email This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

 

More Articles

The 100 Best Green Workplaces in Oregon

June 2014
Tuesday, May 27, 2014

GreenLogoOregon is known for its green-minded citizens, and many workers are attracted to firms and organizations that practice green, not just pay lip service to it.


Read more...

Liquid gold

June 2014
Thursday, May 29, 2014
BY JENNIFER MARGULIS

Don Gentry navigates Klamath Basin water rights.


Read more...

Timber town

June 2014
Thursday, May 29, 2014
BY LEE VAN DER VOO

A forest collaboration saves the Rough & Ready Lumber Company.


Read more...

The role of higher education as K-12 underperforms

Contributed Blogs
Friday, May 30, 2014
ThumbChalkboardBY DEBRA RINGOLD | OB GUEST CONTRIBUTOR

Since 1970 the performance of our public education system has steadily deteriorated.


Read more...

Driving green

June 2014
Thursday, May 29, 2014
BY KIM MOORE

Transportation accounts for the second-largest source of greenhouse gases in the U.S. (28% in 2012), and the use of renewable fuels, such as biodiesel and ethanol, is booming in light of state and national programs to make transportation fuels cleaner.


Read more...

OB Video: Oregon MESA

News
Thursday, June 26, 2014

ThumbOregon Business hosts an informal roundtable discussion about the Oregon MESA (Mathematics, Engineering, Science Achievement) program.


Read more...

The barber is back

June 2014
Thursday, May 29, 2014
BY MIKE GREEN

An old profession is new again.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS