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

Revolution in print, pixels and passion

News
Tuesday, March 11, 2014
RyanFrankNewsBY MARK BLAINE | OB BLOGGER

The publisher of the Emerald Media Group moves on, leaving a cutting edge media group that depends on business acumen for its survival.


Read more...

The solution to youth unemployment

News
Thursday, February 27, 2014
02.27.14 Thumbnail TeenworkBY ERIC FRUITS

Because they have little chance of working for someone else, today’s teens need to be entrepreneurs. But, first, we must teach our teens that entrepreneurship starts small.


Read more...

The 2014 100 Best Companies to Work for in Oregon

News
Friday, February 28, 2014

100best14logo ThumbnailThe 21st annual 100 Best Companies to Work For in Oregon list was announced Thursday night at an awards dinner at the Oregon Convention Center.


Read more...

How to handle the unexpected

Contributed Blogs
Friday, March 28, 2014
03.28.14 thumb disasterBY TOM COX | OB BLOGGER

The next mysterious (or disastrous) event could be one that you or your team might suddenly need to respond to, probably under intense scrutiny.


Read more...

Eking out a living

News
Tuesday, April 08, 2014
04.08.14 thumb ourtable-coopfarmsBY HANNAH WALLACE | OB BLOGGER

It may be obvious, but most farmers don’t make a lot of money. According to preliminary data from the 2012 Agriculture Census, 52% of America’s 2.1 million principal farm-operators don’t call farming their primary occupation. Farm cooperatives may offer a solution.


Read more...

The 2014 List: The Top 34 Medium Companies to Work, For in Oregon

March 2014
Thursday, February 27, 2014

100best14logoWebOur 100 Best Companies project turned 21 this year, so pop open the Champagne. Our latest survey gives us plenty to cheer.

 


Read more...

Are millennials reshaping politics in the Pacific Northwest?

News
Wednesday, April 02, 2014

MillennialsThumbA new report explores the impact of millennials on Oregon's business and political climate.


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