Portland continues economic growth, even surpassing its peers


Bark blowing employees   The Oregon Office of Economic Analysis released a new report entitled "Portland in Transition."  
   According to the report, Portland's economic expansion is now taking it beyond the level of its peer metro cities when it comes to higher wage growth and educational attainment.
   Economist Josh Lehner posted, "Portland's growth has been transformational, and not just when it comes to the apartment boom in the urban core. To date, it is clear that Portland is transitioning as it pulls away from its former economic peers."
   The report states that the Portland metro region continues to attract young, educated talent, but that the housing affordability is still a risk factor to growth.
   This can be seen in some of the Oregon Unemployment Department's latest local data.
   The unemployment rate at the local level is still down from a year ago, but it has inched up in the last month or two.
   Washington County's unemployment rate was 3.5 percent in August, while Multnomah County was at 3.6 percent and Clackamas County at 3.8 percent.
   When it comes to housing, Lynn Wallis said in her Clackamas County economic report, "Since June 2010, the median sales price of all homes in Clackamas County has increased from $256,810 to $415,000 or by 62 percent."
   To read more about the local employment and demographics, please turn to WEA's economic and demographic indicators, Emily Starbuck's Washington Countyreport, Lynn Wallis' Clackamas County report, and/or a report from the University of Oregon's Tim Duy.
   The Oregon Office of Economic Analysis' "Portland in transition" report is also available on its blog.