Report | Evolving Workforces
Portland Econ Update
October 31, 2022
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| The Portland metro area continued to gain jobs during Q3 of 2022, mainly driven by growth in the Construction, Technology, Manufacturing and Financial Services sectors. Despite continued asset price declines amidst a rising interest rate environment, consumer spending ticked up during the quarter. Consumer sentiment recovered some, rising from an index score of 51 to 58. Though job openings are plentiful in the region and household balance sheets remain relatively healthy by historical standards, persistent inflationary pressures and falling savings rates could portend slower economic activity in the quarters to come. |