PORTLAND, Ore. (KOIN 6) — After more than 50 years of job growth outside of major cities, a new report shows job growth in downtowns is now outpacing the suburbs.
In Portland, jobs in the city core grew .8%, said City Observatory in their report. That same report showed jobs in outlying areas dropped .5%.
That is a stunning reversal from the period between 2002 and 2007 when suburban job growth outpaced urban jobs by a margin of 1.1%.
The reason, according to Joe Cortright, an economist and founding director of City Observatory, is that cities are more competitive, people show a renewed preference for urban living and better transportation options.
Because of that, more companies are moving to cities or expanding their operations, he said, and are better able to attract talented, young workers.