Salem Statistical Information

The capital of Oregon, Salem, has remained one of Oregon’s largest and most productive cities for over 100 years. As of 2007, the city’s population was estimated at 152,290, which makes it the third-largest city in Oregon. Though the state government is by far Salem’s largest employer, the city is also a hub for agricultural food processing centers and farming communities. The biggest private employer in Salem is the Salem Hospital, which has more than 2,700 employees. Spirit Mountain Casino, T-Mobile, and Wachovia Securities are also major private employers for the Salem area. In this post, we’ll provide more information on Salem’s economic and business status with employment, demographic, workforce, and other statistics.

2008 Unemployment Rates by Month

The Oregon Employment Department maintains a website with current labor market information that business owners and consumers might find helpful. Part of the information the department collects is unemployment information by metropolitan area. Here are the unemployment rates for the Salem metro area by month for 2008 (data for most recent months not yet available):

January - 6.3%
February - 6.5%
March - 6.3%
April - 5.6%
May - 5.3%
June - 5.4%
July - 5.7%
August - 6.0%
September - 5.5%
October - 6.6%

GDP by Metropolitan Area

The U.S. Bureau of Economic Analysis (BEA) estimated the GDP of 363 metropolitan areas, including the Salem, OR metro area, in the United States in late 2007. The data cover through 2005. According to an article on the Oregon Employment Department website, here is how the six major metro areas in Oregon, including Salem, stacked up against other areas of the United States:

Portland/Vancouver/Beaverton - 2005 GDP of $91.1 billion, ranked 24th in the U.S.
Salem - 2005 GDP of $10 billion, 149th in the U.S.
Eugene/Springfield - 2005 GDP of $9.5 billion, 154th in the U.S.
Medford - 2005 GDP of $5.4 billion, 215th in the U.S.
Bend - 2005 GDP of $5.1 billion, 220th in the U.S.
Corvallis - 2005 GDP of $3.8 billion, 271st in the U.S.

Demography for Marion County

Any successful business owner must know the demography of the market in order to maximize profits. Below we’ve included some highlights of the demography of Salem:

The population is 83% White, 14.6% Latino, 2.41% Asian, 1.51% Native American, and 1.28% African American
The median age in Salem is 34 years
The average household size is 2.53, and the average family size is 3.10
The median household income is $38,881
15% of the population lives below the poverty line

We have also compiled a list of useful business resources in Gresham, OR for your convenience.

Cash and Stethoscope