A disproportionate number of people moving to Portland in recent years have been college educated 25-39 year olds. Between 1990 and 2007 the fraction of Oregon workers with college degrees rose from 19.5% (below the national average of 21.3%) to 28.3% (above the national average of 27.5%).
And there aren’t enough bicycle repair, coffee shop, and unicorn wrangling jobs in town for all of them.
This drizzly city along the Willamette River has for years been among the most popular urban magnets for college graduates looking to start their careers in a small city of like-minded folks. Now the jobs are drying up, but the people are still coming. The influx of new residents is part of the reason the unemployment rate in the Portland metropolitan area has more than doubled to 11.8% over the past year, and is now above the national average of 8.9%.
A slideshow also accompanies the article. It includes the obligatory photos of parked bicycles, Stumptown Coffee, Voodoo Doughnut, the Made in Oregon sign, and the Pearl District.