The greater Portland area has experienced a concerning trend of negative job growth, resulting in the largest employment loss among the top 50 largest U.S. metro areas. From April 2023 to April 2024, the region, including Vancouver and Hillsboro, saw a decline in jobs rather than an increase.
This unfortunate distinction places Portland at the forefront of cities with significant job losses during that period. According to Oregon state economist Jake Procino, the top three cities for job growth during this time were Las Vegas, Oklahoma City, and Sacramento, further highlighting Portland’s struggle. Although the overall Portland area did see some job gains over the past year, they were insufficient to offset the losses experienced.
However, it is important to note that looking at aggregate numbers can mask the variations within different industries. While the federal Bureau of Labor and Statistics estimated a net loss of 14,600 jobs in the Portland area, state economists, including Procino, believe the actual number of losses was closer to 6,000. Nonetheless, any level of job loss is still a setback for the region.
Another noteworthy observation from Procino’s newsletter is the distribution of minimum wage jobs by county as of the third quarter of 2023. While Multnomah County has the highest number of minimum wage jobs overall, it does not have the highest proportion relative to its population. Linn County, despite having the lowest raw total number of minimum wage jobs in the region, has a higher percentage of minimum wage jobs at 4.7%, compared to Multnomah County’s 3.8%.
The negative job growth in the greater Portland area highlights the challenges faced by the local economy. Efforts to address this issue and support industries experiencing difficulties will be crucial in revitalizing the job market and ensuring the well-being of the community.
