Home Must Reads Portland having economic renaissance

Portland having economic renaissance

| Print |  Email
Must Reads
Friday, August 10, 2012

Portland is no longer "where young people go to retire."

The recession of 2001 had a long-lasting effect on the labor market, but nationally it was among the shallowest on record in the postwar period. The Portland region, by contrast, suffered a spike in joblessness that was much more severe than the national average, and it didn’t bounce back any faster than the rest of the country. At the national labor market’s 2003 nadir, joblessness in the Portland area was nearly 50 percent higher than the national average. Given the long and severe nature of the jobs crisis, it’s no surprise that labor-force participation rates slumped. Then, just as Portland was converging with the national economy and finally getting back to health, the Great Recession of 2008 hit. Here again, Portland’s joblessness rate spiked higher and faster than the national average. But the gap wasn’t nearly as large as it had been previously. What’s more, this time around, Portland fell harder but also bounced back faster. And over the past year, Portland’s unemployment rate has fallen to below the national average. Joblessness is still high nationally, so conditions in the Portland area hardly feel like a local miracle. But in relative terms, the turnaround is striking. National unemployment is still about two percentage points higher today than at its post-dot-com peak in 2003, while Portland's unemployment is one point lower.

Read more at Slate.

{biztweet}portland young people retire{/biztweet}

 

More Articles

Reimagining education to solve Oregon's student debt and underemployment problems

News
Thursday, November 13, 2014
carsonstudentdept-thumbBY RYAN CARSON | OP-ED CONTRIBUTOR

How do we skill up our future technology workforce in a smart way to take advantage of these high-paying jobs? The answer shouldn’t focus only on helping people get a bachelor’s degree.


Read more...

100 Best Nonprofits announced

News
Thursday, October 02, 2014

100NP14logo4WebOregon Business magazine has named the sixth annual 100 Best Nonprofits to Work for in Oregon.


Read more...

What I'm Reading

October 2014
Thursday, September 25, 2014

Nick Herinckx, CEO of Obility, and Jake Weatherly, CEO of SheerID, share what they've been reading.


Read more...

True Blood

October 2014
Thursday, September 25, 2014
BY JOE ROJAS-BURKE

Antibiotics really aren’t magic bullets.


Read more...

Water World

November/December 2014
Wednesday, October 22, 2014
BY KIM MOORE

Fred Ziari aims to feed the global population.


Read more...

Fork & Bottle

October 2014
Thursday, September 25, 2014

National media can’t get enough of Oregon’s pinot noir, artisan-food purveyors and lively, independent film scene.


Read more...

Political Clout

November/December 2014
Wednesday, October 22, 2014
BY KIM MOORE

Businesses spend billions of dollars each year trying to influence political decision makers by piling money into campaigns.


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