Molalla second fastest growing city in Oregon
Molalla is the second-fastest growing Oregon city of those that have populations more than 5,000. All three fastest-growing cities are located in Clackamas County, according to the Portland Business Journal.
Molalla has grown 18.7 percent in that five-year period from 2013 to 2018, adding 1,515 to reach 9,625 residents in 2018.
In the same period, Happy Valley experienced the fastest growth at 34.5 percent in the five-year period to a 2018 population of 20,945. Wilsonville was the third-fastest growing city with 17.2 percent in the five year period to 25,250 in 2018. That's out of 75 cities.
The county's unemployment rate dropped from 4.1 percent in March to 3.6 percent in April, according to the state Employment Department's economic indicators. That rate is equal to 7,827 unemployed residents looking for work.
In working out industry trends, economists use location quotients as ratios to allow analysts to quantify how concentrated an industry is compared to the nation as a whole. These quotients are useful in determining what industries make an area unique and to identify the most export-oriented industries that could erode the region's economic base.
A location quotient greater than 1 indicates an industry with a greater share of employment than is the case nationwide. Clackamas County's agriculture has a 1 indicating it has a greater share of employment than is the case nationwide. In Clackamas County agriculture had a high location quotient of 3.76 ranking it third among the state's counties in market value of agricultural products sold in 2017. Other industries with high location quotients in the county were real estate, construction, wholesale trade and manufacturing.
Looking at Clackamas County's location quotients by broad industries, the following industries had high location quotients in the third quarter of 2018: agriculture, forestry, fishing and hunting at 3.76; while the rest are just over one; real estate and rental and leasing at 1.83; construction at 1.69; wholesale trade at 1.58; manufacturing at 1.31; other services at 1.27; retail trade at 1.19; and health care and social assistance at 1.14.
Those industries with lower location quotients in the county, under 1 are: accommodation and food services 0.97; administrative and waste services, 0.91; professional and technical services, 0.88; information, 0.82; finance and insurance 0.81; management of companies and enterprises, 0.68; arts, entertainment and recreation, 0.63; transportation and warehousing.
Quality local journalism takes time and money, which comes, in part, from paying readers. If you enjoy articles like this one, please consider supporting us.
(It costs just a few cents a day.)