ECONOMY

The local economy expanded steadily last decade, led by robust job growth in newer industry clusters like creative services and high tech manufacturing. Although still too high, Multnomah County’s poverty rate has responded, moving from 14% in 1996 down close to 12% in 1999. However, local income growth has recently slowed relative to U.S metro areas as a whole, after quickly gaining ground upon them earlier in the decade (see Benchmark #1). This is likely the result of the area’s greater dependence on Asian markets. If Asian economies recover local income growth may once again improve against the U.S. Metro average. (101 words)