Oregon Finance Jobs

Despite the economic recession and all the trouble the finance industry has faced as of late, Oregon finance jobs still have a lot to offer.

During 2008, about $4.5 billion was paid to employees in Oregon's financial activities industry, which currently employs more than 88,000 workers, making up 5.2 percent of the state's overall employment.

According to the Oregon Employment Department, the state's financial activities industry includes:

• Credit intermediation and related activities - 28,760 employees, average yearly salary of $50,045
• Insurance carriers and related activities - 26,488 employees, average yearly salary of $58,621
• Real estate - 20,335 employees, average yearly salary of $32,968
• Rental and leasing services - 7,196 employees, average yearly salary of $27,693
• Securities, commodity contracts and investments - 4,864 employees, average yearly salary of $116,619
• Funds, trusts and other financial vehicles and monetary authorities - 613 employees, average yearly salary of $52,347
• Lessors of non-financial intangible assets - 335 employees, average yearly salary of $60,122

Although finance jobs in Oregon have remained strong, the industry has still felt some effects from the economic recession. Since the recession began in December 2007, the real estate and rental and leasing services sectors took the biggest hit, losing a combined 8,000 jobs, or 20 percent of their workforce.

Employment in banking and mortgage industries decreased by 2,600 jobs, or 8 percent, while all other financial sectors combined saw a 5.7 percent decrease in employment. The insurance carriers and related activities sector added 400 jobs.

Despite those losses, the Federal Deposit Insurance Corporation found that the number of financial institutions in Oregon actually increased during the last two years. The state went from having 59 financial institutions, with a total of 1,086 offices, during 2008 to having 61 financial institutions, with a total of 1,119 offices, during 2009.

And with many economists proclaiming that the recession is nearing an end or already over, the financial activities industry is facing a positive outlook for the near future. From 2008 to 2018, the industry as a whole is expected to add 3,800 jobs throughout the state, accounting for a growth rate of 4 percent.

The finance and insurance sector is expected to add jobs at an even faster rate, accounting for the majority of growth within the industry, increasing by 3,600 jobs, or 6 percent. The real estate and rental and leasing services sectors are expected to add about 100 jobs throughout the state.