Economy improves in Portland

Portland’s economy is growing on pace with or faster than the average rate for the nation. The emphasis on long-term employment opportunities and adaptive policies has helped the metro remain strong.

According to the Bureau of Planning and Sustainability’s report, titled "Portland Economic Opportunities Analysis June 2012," Portland is the primary regional job center, accounting for 39 percent of Oregon’s jobs despite only serving as home to 26 percent of the state’s population. As a result, those living in real estate in Portland are in a strong employment sector.

In fact, Oregon’s initial unemployment claims have dropped from 7,669 in April 2012 to 7,401 in May 2012, according to the University of Oregon’s Index of Economic Indicators. Employment service payrolls also increased from 31,600 to 32,234 in that same span of time, the Portland Business Journal reports.

Manufacturing remains a key industry in Portland, with above-average wages and high employment rates, helping to sustain other industries within the state. The Bureau of Planning and Sustainability states that one manufacturing job supports 3.69 local jobs in the area.