This is a snippet of the newsletter from Jake Procino (Workforce Analyst/Economist, Multnomah County | Oregon Employment Department)
Economy in Multnomah County and the Portland MSA
Oregon’s total nonfarm payroll employment grew 0.5%, adding 10,100 jobs over the last 12 months ending in July. Multnomah’s nonfarm payroll employment contracted -0.9%, losing an estimated -4,700 jobs over the same time period. The Portland-Vancouver-Hillsboro Metropolitan Statistical Area (Portland MSA) employment level shrank -0.7% year-over-year ending in June, according to the Bureau of Labor Statistics. Las Vegas and Oklahoma City were the fastest growing among the 50 largest metros.
The seasonally adjusted unemployment rate in Oregon held at 4.1% in July, moderately higher than last year when it was 3.6% in July 2023. Oregon’s unemployment is slightly lower than the U.S.’s unemployment rate of 4.3%. Notably, Oregon remains below the 10- and 20-year unemployment rate averages of 5.1% and 6.3%, respectively. Multnomah County’s and the Portland MSA’s unemployment rate held steady at 4.0% in July. Both rates are above where they were a year ago (both were 3.5% in July 2023) and both county and MSA remain below their 10-year averages, both of which are 5.0%.
Read more about the Multnomah and Portland economy on QualityInfo.org, Oregon’s website for labor market information.
Topic of the Month: Age of the Multnomah County Workforce
Multnomah’s workforce is aging. The number of Multnomah workers age 55 and over more than tripled in the 30 years from 1993 to 2022, increasing from 37,000 to over 110,000. The share of the workforce 55 and older more than doubled in the same time period from 10% to 22%. Driving this trend is that the youngest of the large Baby Boomer generation turns 60 in 2024, and they are more likely to be in the labor force than previous generations were at ages 55 and beyond. Many of these workers may plan to retire in the next 10 years, taking their skills and experience with them.
With the relatively smaller Gen Z generation entering the workforce, workforce aging is expected to continue in the coming years. Its impacts will be felt across industries, as there are fewer laborers available to replace retiring workers. It impacts employers, industries, and regions to varying degrees. Employers should know the age profile of their own workforce so they can plan accordingly for increased turnover and recruitment efforts due to retirements. At a broader level, workforce planners need to know the demographic profiles of entire industries and regions to help gauge the need for future replacement workers.
Read more about the aging workforce in Multnomah County here.
Data Request of the Month: Tree Trimming Portland Tri-County Occupational Wage Estimates
I was asked to provide wage estimates for a tree trimming company in the Portland Tri-County area. The Employment Department produces wage estimates for hundreds of occupations across Oregon, so I was able to provide the following data below. If you have similar questions, please reach out!
| Occupation | Median Wage in Portland Tri-County |
| General and Operations Managers | $48.29 |
| Cost Estimators | $39.57 |
| Project Management Specialists | $46.85 |
| First-Line Supervisors of Landscaping, Lawn Service, and Groundskeeping Workers | $28.79 |
| Tree Trimmers and Pruners | $25.78 |
| Grounds Maintenance Workers, All Other | $20.06 |
| Secretaries and Administrative Assistants, Except Legal, Medical, and Executive | $24.77 |
| Maintenance and Repair Workers, General | $24.83 |
| Source: Oregon Employment Department, Occupational Employment and Wage Estimates | |
Good Reads
“Multnomah County reports surge in people moving from homelessness to shelter, housing in past year,” by Alex Zielinski, Oregon Public Broadcasting.
“An Out-of-State Investor Bought an East Portland Home. Then a Dozen Struggling People Moved In.” by Lucas Manfield, Willamette Week.
“The Anatomy of Labor Demand Pre- and Post-COVID,” by Richard Audoly, Miles Guerin, Giorgio Topa & Roshie Xing, Liberty Street Economics.
“School Food Policy Affects Everyone: Retail Responses to the National School Lunch Program,” by Jessie Handbury, University of Pennsylvania & Sarah Moshary, University of Chicago.
“Free meals at Oregon’s largest school district echo a statewide effort to serve students all over the state,” by Natalie Pate, Oregon Public Broadcasting.