Foot traffic in downtown Portland down more than 70% since pandemic, report says

PORTLAND Ore. (KPTV) - The Portland Business Alliance released its State of the Economy report Wednesday, saying the city’s economy is at a crossroads and local leaders need to act with urgency.

The new report said the city is facing challenges because of its reputation with gun violence and homelessness, its affordability crisis, and challenges from the pandemic. The report also specifically mentions that downtown Portland, in particular, is still struggling.

The report shows that the local job market is lagging behind the U.S. average, with Portland growing 2.1% compared to the US average of 2.8%.

There is promising news: the unemployment rate is 3.4% as of December, which is well below the level anticipated a year and a half ago. There are plenty of job openings, but businesses are having trouble filling them.

As for downtown Portland, the report said there has been a 72% decline in foot traffic since before the COVID-19 pandemic.

The report shows a household of two adults and two children needs an income of $94,000 for self-sufficiency in Portland, and around $72,600 is the median household income, marking the second lowest among peer regions.

In response to the report, President and CEO of Portland Business Alliance, Andrew Hoan, said the city is at an economic crossroads, adding that “policy and elected leaders must pivot away from complacency and urgently collaborate on all levels of government to retain and attract employers and households if we hope to fulfill the economic promise of this incredible place.”

The report also found that Clark County is growing nearly as fast as Multnomah, Washington and Clackamas counties combined.

To view the full report, click here.

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