{"id":11365,"date":"2024-05-13T10:55:08","date_gmt":"2024-05-13T17:55:08","guid":{"rendered":"https:\/\/mattfife.com\/?p=11365"},"modified":"2024-05-11T11:05:01","modified_gmt":"2024-05-11T18:05:01","slug":"portland-had-the-largest-loss-of-employment-in-the-country-over-the-last-year","status":"publish","type":"post","link":"https:\/\/mattfife.com\/?p=11365","title":{"rendered":"Portland had the largest loss of employment in the country over the last year"},"content":{"rendered":"\n

The unemployment rate in the metro area stood at 4.2% in March 2024 – which isn’t that bad. The problem is that from a year ago, total employment fell 1.5% from the same time last year<\/a>. Portland fared worse than all other US cities. <\/p>\n\n\n\n

Local companies are tightening their belts. There have been big layoffs at Nike, Columbia sportswear, Wieden+Kennedy, Axios, and VACASA. The commercial vacancy rate in Portland is now the highest in the country – and is not predicted to recover for about a decade.<\/p>\n\n\n\n

So how can you still have a decent unemployment rate while actual job hiring is shrinking? People are leaving the metro area. The last 3 years Portland metro has seen a net SHRINKING population<\/a> – for a variety of very predictable reasons<\/a>.<\/p>\n\n\n\n

This isn’t something people can wave off as just a fluke. It’s been a 3 year trend, and it’s one that’s got demographers sounding alarm bells. Especially when many other parts of the country are seeing very nice population, employment, and civic growth. <\/p>\n\n\n\n

Articles:<\/p>\n\n\n\n