Tag Archives: economic indicators

Central Oregon Economic Indicators – April 2024

Central Oregon Economic Indicators - April 2024

This month, Regional Economist Nicole Ramos is focusing on employment growth in Central Oregon by firm size, using data from the Quarterly Workforce Indicators published by the Census Bureau. The data in the monthly graph depicts the quarterly employment trends by firm size in Central Oregon, while the data below shows employment growth by firm size since 2013. Overall, Central Oregon has experienced strong employment growth over the past decade, but this growth hasn’t been evenly distributed across different firm sizes.

Historically, companies with fewer than 50 employees have had the most workers, making up the majority of the region’s workforce, highlighting the importance of small businesses as a driver of employment in Central Oregon. While smaller firms dominate numerically, the most rapid growth has consistently been in companies with 20-49 employees. The number of total employees in this size category has grown by 65% over 10 years. However, firms in this employment category have only made up an average of 14.8% of total employment in Central Oregon over the past decade. Employment in firms with 500 or more employees has seen the second strongest growth, expanding by 62% during this period. The latter signifying a potential change in the reliance on larger firms in the regional economy.

Looking at the percentage of total employment held by each firm size category also supports a shift. In 2013, businesses with 0-19 employees accounted for 35.1% of total employment. By 2023, this share had decreased to 30.6%. During this same time, the share of employment held by businesses with 500 or more employees increased from 31.3% to 35.1%.

In short, while smaller firms traditionally drive initial job creation, more recently larger firms seem to be driving employment in the region highlighting their increased importance in the employment landscape of Central Oregon.

Central Oregon Economic Indicators April 2024