PORTLAND, Ore. — The Portland region saw “modest improvements” in its economy last year, with positive but somewhat sluggish job growth and ongoing challenges with population loss and housing affordability, according to the Portland Metro Chamber’s 2024 State of the Economy report.
Multnomah and Washington counties all lost population in 2022, according to the report, while Clark County saw what the report describes as a modest increase, and Clackamas County remained essentially unchanged. Most of the changes were driven by migration into or out of the counties; only Washington County had meaningful “natural” population growth, meaning growth driven by local births outpacing deaths.
“Once a migration magnet, the Portland area appears to have hit an affordability wall,” the report concludes.
The region saw an overall job growth rate of 1.3% in 2023, which the report characterized as…
