As of December, more than 142,000 people worked in construction in Washington. While that is an improvement over the 135,400 at its lowest recent level in 2011, it is far from the peak of 211,600 in June 2007. The December numbers are in line with the summer of 2008 and even lower than the post-Great…More
Category: Pacific Northwest economy
Washington was one of 16 states that reached record highs in merchandise exports for 2013, according to the U.S. Commerce Department. The state’s $81.9 billion came in third behind Texas and California. Other states in the Pacific Northwest didn’t perform nearly as well. Overall, U.S. merchandise exports hit $1.58 trillion last year, even though the…More
The always insightful Josh Lehner at the Oregon Office of Economic Analysis has been following job creation over the past several years — the Great Recession officially ended in June 2009 — and the results for the Pacific Northwest show many of the same struggles seen nationwide. As the chart below from Lehner’s blog shows,…More
A recent report says that the “destination resorts” in Oregon have stabilized after years of pain from the Great Recession. This is especially an important turning point because many of the state’s resorts were built or expanded in the years running up to the collapse. Many of these resorts are in Deschutes County in and…More
If you haven’t seen it, the blog Vizinary has used Census data to show state-to-state moves last year in an interactive graphic. Washington gained a total of 35,030 people. It was the best showing among the Northwest. Only Alaska turned in a net outflow of 50,653, most going to California and Florida.More
In the new Best Performing Cities 2013 report from the Milken Institute, Seattle comes in at No. 6, up seven places from its rank in 2012. Our strength, at least by this reports metrics, are tech and airplanes.More
King and Snohomish counties are among the higher ranks of household income for 2012, according to new data from the Census Bureau. Even so, they’re below the richest counties, which are clustered around the other Washington. This map shows the stark differences nationwide with lower income prevailing.More
Amid continuing tepid growth in world trade in the Great Recession’s aftermath, the EU crisis and a slowdown in China, the Pacific Northwest saw an overall decline in its market share in the second quarter. A Journal of Commerce report said overall container traffic to North American West Coast ports fell by 2.3 percent compared with the same period in 2012 and overall market share also declined. But the pain was not uniformly felt.
In Los Angeles, container volume fell 9.9. percent, but this was offset by Long Beach’s 10.1 percent growth. This helped keep Southern California dominant in its share, up four tenths of a percentage point to 60.1 percent. Oakland was off 0.2 percent but its share grew slightly to 9.8 percent among the West Coast ports.
The story was different in the Northwest. The Port of Tacoma saw its container volume leap 34.3 percent, the best showing among the group surveyed. Unfortunately, most of this came as a result of the Grand Alliance and Hamburg Sud lines moving from the Port of Seattle, where traffic plummeted 28.8 percent, the biggest loss seen that quarter. Portland dropped 13.8 percent. Thus, the Northwest overall fell to 11.7 percent market share from 12.1 percent in the second quarter of 2012 and 12.4 percent in 2011. Share in Vancouver and Prince Rupert grew to 13.8 percent vs. 13.4 percent in 2012 and 12.6 percent in 2011.More
Seattle-Tacoma-Bellevue comes in with the 15th best performance among the 100 metros in the September update of the Brookings Institution’s Metro Monitor. The project tracks how metropolitan areas are recovering from the recession, using a variety of measures, including jobs, unemployment, housing and output. The No. 15 ranking tracks from the trough of the…More
Washington’s unemployment rate in July was 6.9 percent but across the Columbia River the rate stood at 8 percent. Oregon continues to struggle out of the Panic of 2008. The economic indices compiled by the University of Oregon (the latest shows June) indicate that none of the state’s region’s have fully recovered. Metro Portland is doing the best, while the Rogue Valley and Salem are faring worst.
The recession was especially hard on the state for several reasons: Its heavy exposure in manufacturing, continued reliance on forest products and a real-estate bubble in Bend. As I wrote before, the ills in Portland risk being overstated. The Brookings Institution’s Metro Monitor shows Portland doing fairly well from the trough of the downturn to June — the exception is job creation. But the rest of the state faces a much harder slog. (To be sure, 14 other states have worse unemployment rates, including South Carolina, Kentucky, Georgia and North Carolina).
One other telling metric: From 2010 through July 2012, Oregon’s population increased by only 1.8 percent. In Washington, the rate of increase was 2.6 percent.More