|| Print ||
|Friday, June 07, 2013|
BY BRANDON SAWYER | OB RESEARCH EDITOR
Unemployment is down but so is the labor force as discouraged workers desert, baby boomers retire and the economy sputters along. Has Portlandia's "Dream of the '90s" evaporated?
Last month, a geographer from Pittsburgh wrote a brief article for Pacific Standard with the subtle title,"Portland Is Dying." A few members of the "Portland is anti-business" crowd were happy to oblige his celebration of Portland's demise with knowing comments, but it also drew criticism from Rose City defenders.
The basis of his argument was that Portland's labor force – an estimate of both employed and unemployed folks – had shrunk by nearly 25,000 in the year ending March 2013. This does not necessarily signal a loss of jobs; it could also be attributed to a loss of unemployed job seekers.
Looking further into the data, more recent April numbers from the Oregon Employment Department show Portland Metro's labor force down about 21,000 people, or -1.7% between April 2012 and April 2013. In Seattle-Tacoma the labor force grew by nearly 24,000 or +1.3% during the same period. Oregon-wide it fell more than 38,000, or -1.9% while it remained flat in Washington, and grew half a percent nationally.
Portland is currently the 23rd largest metro by size of labor force, and among the top 25 metros only Portland and St. Louis lost labor force during the year ended in April. Twelve of them, including Seattle, increased their labor force more than a one percent, with Houston leading the pack at +2.5% or 74,000. Most likely, the gains being made by metros these days are through employment, since unemployment rates are falling across most of the nation. Portland's unemployment rate is also down, but lately this is because unemployment is falling faster than employment. Portland was one of the six top 25 metros that lost labor force in 2012, too, though it only fell by a tenth of a percent.
Oregon, meanwhile, had the second biggest labor force dip, after Connecticut at -2.0%, for the year ended in April among 15 states that saw declines. Only eight states had increases greater than one percent, led by Utah at +2.7% and North Dakota at +2.6%.
State employment economist Nick Beleiciks says three factors are hampering growth in labor force, both in Oregon and other parts of the country:
Beleiciks also noted that Oregon's labor force participation rate – labor force participants divided by all who could conceivably be working – reached its lowest point in April, 61.9%, since state economists began recording it in the late '70s. The national rate has also taken a dramatic plunge in the last five years and was at 63.3% in April. Last year a blog on The Washington Post decried the falling rate and its potential to shrink the labor force..
It's worth noting that the labor force is figured using the Current Population Survey (CPS) of households, which of course also measures employment. It showed employment in Portland Metro down almost 6,500 jobs in the year ended in April. But a better measure of employment, according to Beleiciks is found in the Current Employment Statistics (CES) survey or employers, which shows Portland Metro gained 21,800 jobs in that time.
Perhaps young people really do come to Portland to retire, abandoning the labor force or maybe the "jobless recovery" is just hitting harder here. Whether city and state declines are part of an ongoing trend, or jsut a hiccup along the path, remains to be seen.
Research editor Brandon Sawyer digs heaps of data about privately-held and public companies, economics and industries, and extracts relevant articles, graphs and lists, including the 100 Best Companies, Nonprofits and Green Companies to Work For in Oregon.
Wednesday, October 22, 2014
BY JOE ROJAS-BURKE
The black soldier fly’s larvae are among the most ravenous and least picky eaters on earth.
Thursday, December 11, 2014
There’s a fascinating article in the December issue of the Harvard Business Review about a profound power shift taking place in business and society. It’s a long read, but the gist revolves around the tension between “old power” and “new power” as a driver of transformation. Here’s an excerpt:
The authors, Henry Timms and Jeremy Heimans, don’t necessarily favor one form of power over another but merely outline how power is transitioning, and how companies can take advantage of these changes to strengthen their positions in the marketplace.
Our Powerbook issue might be viewed as a case study in the new-power transition. This annual book of lists provides information on leading businesses, nonprofits and universities in the state. Most of the featured companies are entrenched power players now pursuing more flexible and less hierarchical approaches to doing business. Law firms, for example, are adopting new technologies and fee structures to make legal services more accessible and affordable.
This month we also take a look at a controversial new U.S. Securities and Exchange Commission rule requiring public companies to disclose the median pay of workers, as well as the ratio between CEO and median-worker pay.
Part of the 2010 Dodd-Frank financial reform law, the rule will compel public companies to be more open about employee compensation, with the assumption that greater transparency will improve corporate performance and, perhaps, help address one of the major challenges of our time: income inequality.
New power is not only about strategy and tactics, the Harvard Business Review authors say. “The ultimate questions are ethical. The big question is whether new power can genuinely serve the common good and confront society’s most intractable problems.”
That sounds like a call to arms. Or a New Year’s resolution. Old power or new, the goals are the same: to be a force for positive change in the world. Happy 2015!
Thursday, November 20, 2014
BY JASON NORRIS | OB CONTRIBUTOR
Each month for Oregon Business, we assess factors that are shaping current capital market activity—and what they mean to investors. Here we take a look at two major developments regarding possible rollbacks of the Affordable Care Act (ACA).
Friday, October 24, 2014
A majority of respondents agreed: Local vineyards should remain Oregon-owned and quality is the most important factor when determining where to eat or buy groceries.
Tuesday, December 09, 2014
BY LINDA BAKER
On the eve of the Portland Ad Federation's Rosey Awards, Matt Anderson, CEO of Struck, talks about the transition from creative director to CEO, the Portland talent pool and whether data is the new black in the creative services sector.
Thursday, November 13, 2014
BY 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.
Sunday, December 07, 2014
BY LINDA BAKER
On Friday, Uber switched on an app — and with one push of the button torpedoed Portland’s famed public process.
|A Complex Portrait: Immigration, Jobs and the Economy|
|Woman of Steel|
|Kill the Meeting|
|Debate surrounding Washington-Oregon I5 span heats up|
|Watchdog group takes issue with timber company's 'green' label|
|Labor dispute at the ports slowing Christmas deliveries|
|Fed stresses 'patience' regarding interest rate|
|Obama to announce end of Cuba isolation|
|Energy prices drop cost of living in US by most since 2008|
|Russia's attempt to slow ruble freefall fails|
Is your business ready to join us in the call for action? This opening panel includes Oregon businesses who will discuss why they signed the Oregon Climate Declaration, the investments they are making to reduce carbon emissions, and how their actions are affecting their companies.
Get ready for two days of special events produced with the EPA, Portland Timbers and ISOS before and after the GoGreen Conference on October 16.
How sports tourism is driving economic growth and making cities across Oregon a better place to live.
Port of Morrow's business-ready attitude has a surprising global impact.
Through its support of the arts, the Cultural Trust is strengthening the business community.
Heed the morals of these seminal holiday stories in your everyday life.
Amy will practice in the firm's Business, Real Estate, and Tax practice groups.
While the Bend City Council ultimately upheld the approval which enables OSU-Cascades to move forward with the 10 acre site, it did also thoughtfully consider the nature of its code requirements, resident concerns and OSU-Cascade’s efforts and suggestions and crafted conditions of approval to address potential impacts of the site in the area.