Economic Check-Up Shows Progress of Recovery
2013 Report Summary
The latest in a series of economic studies examines how the region is performing compared to the U.S. metro average and other comparable metro areas.
The 2013 Check-up on the Portland-Regionís Economic Health focuses on three measures that indicate the health of the Portland-metro economy: Gross Metropolitan Product (GMP), employment and income. Key report findings include:
- Out of the top 100 U.S. Metropolitan Statistical Areas (MSP) Portland-metro ranked second in the growth of Gross Metropolitan Product (GMP) between mid-2009 and mid-2013.
- The Portland-metro region has gained back more than 90 percent of the jobs lost since August 2008 (65,900 of 72,400 jobs lost between August 2008 and August 2009 were added back between August 2008 and August 2013).
- For the first time since 2008, median income in Portland-metro increased from $56,023 in 2011 to $56,978 in 2012.
ECONorthwest compiled the reportís data and analysis for the Value of Jobs Coalition, which includes Associated Oregon Industries, Greater Portland Inc., Oregon Business Association, Oregon Business Council and Port of Portland.
BY THE NUMBERS:
The rank of Portland-metro out of the top 100 Metropolitan Statistical Areas (MSA) in the growth of Gross Metropolitan Product between mid-2009 and mid-2013.
The number of jobs lost from August 2008 to August 2009, which is the baseline job loss number used in this report.
The number of jobs added back between August 2009 and August 2013, 6,500 fewer than peak level.
The amount by which Portland-metroís median household income increased between 2011 and 2012.
$4,475, $9,000 & $9,304.
The amount by which Portland-metroís median household income trails those of Denver, Seattle and Minneapolis respectively.
The rank of Portland-metro when measured against three peer metros (Sacramento, St. Louis and Cincinnati) in terms of employment gained and median household income growth.
The rank of Portland-metro when measured against three aspirational metros (Denver, Seattle and Minneapolis) in terms of employment gain and median household income growth.