Local, state, and national indicators showing the relative health of the Portland economy
Portland’s economy began reopening again with limited indoor capacity at gyms and restaurants in certain Washington, Clackamas, and Multnomah counties on Friday, February 12th. Between December of last year and January, retail, hospitality, and private educational services added a combined net gain of 6,100 jobs throughout Oregon, which are the industries that lost the most jobs early last year. Continuing Claims for unemployment persist and remains double their pre-COVID levels but one fifth the peak level, reached in May. Over one-third of continuing claims in December were in retail trade and hospitality & food services. Meanwhile, higher paying jobs, such as professional services and technology, continue to have low levels of unemployment. By the end of 2020, Portland metro home values increased to over $434,000, a 4.9% growth from 2019, which is nearly identical to the US growth over the same period.