Portland Economic Update 2022Q4

The Portland metro region continued to gain jobs during Q4 of 2022, mainly driven by the Healthcare, Financial Services and Hospitality sectors. Despite continued asset price declines resulting from hawkish monetary policy, overall consumer spending remained stable and equity markets turned positive during the period. Retail spending improved markedly in Q4 and is now within just 2% of pre-pandemic levels. Entertainment spending also jumped in Q4 and was only 7% down from 2019 levels.