What’s Happening Up North The Northwest Economies Steve Scranton, CFA Chief Investment Officer & Economist Washington Trust Bank.

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Presentation transcript:

What’s Happening Up North The Northwest Economies Steve Scranton, CFA Chief Investment Officer & Economist Washington Trust Bank

Wage Growth

Understanding Slow Wage Growth

A Perspective on Part-Time Jobs Versus Full Time Jobs as of 9/30/15 Since the recession began (December 2007) o 1,418,000 part-time jobs (for economic reasons) have been added. o 230,000 full-time jobs have been added Source: Bureau of Labor Statistics

How Have the Northwest Economies Fared?

It All Starts With Jobs

Idaho Has The Lowest Unemployment Rate

Year-Over-Year Jobs Growth Has Been Better With Washington and Idaho Leading the Way

Jobs Create Income

Wage Growth Has Been Better With Oregon Leading the Way

Only Washington Has Higher Wages Than the National Average

Income Creates Growth

Oregon Has Been the Erratic Growth Economy of the Northwest

NW Construction

Washington Total Permits

Washington Single Family

Washington 5 Units or More

Oregon Total Permits

Oregon Single Family

Oregon 5 Units of More

Idaho Total Permits

Idaho Single Family

Idaho 5 Units or More

Themes for the Next Twelve Months Interest Rates Oil Dollar

Geopolitical Risks Europe Asia Middle East