U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Pennsylvania > Pittsburgh
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
 
Old 03-13-2012, 10:53 AM
 
20,274 posts, read 17,937,512 times
Reputation: 2820
Default Decent January employment report

A couple links:

Pittsburgh, PA Economy at a Glance

Bureau of Labor Statistics Data

Chart:

http://data.bls.gov/generated_files/graphics/SMU42383000000000001_167153_1331660144362.gif (broken link)

The good news is that January 2012 employment was up a lot since January 2011 (a total of 1.6%, which is huge for a region without rapid population growth). It wasn't up quite as much as recent months (which have been over 2%), but we are entering a period in which the 2011 months were up a lot on 2010, so this is a very solid increase on top of a previous very good increase, as reflected in the chart. Also as reflected in the chart, we are now solidly hitting all-time highs for employment in the relevant months.

Digging into specific sectors, construction has continued the nice yoy contribution it started making last summer, which is good news because construction employment is still down a lot since peak, so there is room for sustained growth in this sector:

http://data.bls.gov/generated_files/graphics/SMU42383002000000001_163105_1331657379162.gif (broken link)

Less encouraging were the yoy declines in manufacturing and leisure/hospitality, although seasonality can throw things off in the latter.

Finally, as usual government employment was a drag on the yoy numbers--fortunately the Pittsburgh Metro has relatively little dependence on government employment, but you are still talking about almost 3000 yoy jobs that we are starting in the hole (over 7000 if you go back to the peak in 2003):

http://data.bls.gov/generated_files/graphics/SMU42383009000000001_163344_1331657541949.gif (broken link)

Last edited by BrianTH; 03-13-2012 at 11:35 AM..
Reply With Quote Quick reply to this message

 
Old 03-13-2012, 11:32 AM
 
53 posts, read 50,912 times
Reputation: 40
This is just for the hopelessly confused like me.

The word yoy, as used above IS NOT:Yoy people - Wikipedia, the free encyclopedia

it's Year Over Year...Year Over Year (YOY) Definition | Investopedia
Reply With Quote Quick reply to this message
 
Old 03-13-2012, 11:36 AM
 
20,274 posts, read 17,937,512 times
Reputation: 2820
Quote:
Originally Posted by 999cm999 View Post
This is just for the hopelessly confused like me.
Sorry for the jargon and thank you for providing the explanation!
Reply With Quote Quick reply to this message
 
Old 03-13-2012, 10:18 PM
 
Location: Pittsburgh, PA
3,810 posts, read 3,306,942 times
Reputation: 1771
Those constant declines in manufacturing have been bothering me at a time when the country is gaining manufacturing at an ok pace. Someone on the general us forum tried to say the graph that shows our employment over the past ten years show were well below our peak unemployment.
Reply With Quote Quick reply to this message
 
Old 03-14-2012, 06:59 PM
 
20,274 posts, read 17,937,512 times
Reputation: 2820
Chris Briem points out that thanks to revisions, it was an even better year for jobs in the area than we originally thought:

Nullspace: Looking back - a better jobs year than we thought
Reply With Quote Quick reply to this message
 
Old 03-15-2012, 10:57 AM
 
20,274 posts, read 17,937,512 times
Reputation: 2820
This analysis puts us at #10 out of the top 51 metros (over 1M in population) last year in terms of job gain rates:

The Urbanophile Blog Archive Metro Job Recovery in 2011

That's pretty amazing, particularly when you factor in that we are (supposedly) not a high-population-growth area and also experienced a relatively shallow recession (deeper recessions often mean more rapid recoveries from the bottom--see, e.g., Detroit at #7).

Edit: Oh, and note Philly way down near the bottom at #46. Although that contains some NJ-DE-MD, as we have discussed before, in general the Pittsburgh Metro is really carrying the whole state at this point (the state is having an average recovery, but without us would be having a poor recovery). Someone should really tell our Governor.
Reply With Quote Quick reply to this message
 
Old 03-15-2012, 11:08 AM
 
Location: Pittsburgh, PA
3,810 posts, read 3,306,942 times
Reputation: 1771
Quote:
Originally Posted by BrianTH View Post
This analysis puts us at #10 out of the top 51 metros (over 1M in population) last year in terms of job gain rates:

The Urbanophile Blog Archive Metro Job Recovery in 2011

That's pretty amazing, particularly when you factor in that we are (supposedly) not a high-population-growth area and also experienced a relatively shallow recession (deeper recessions often mean more rapid recoveries from the bottom--see, e.g., Detroit at #7).

Edit: Oh, and note Philly way down near the bottom at #46. Although that contains some NJ-DE-MD, as we have discussed before, in general the Pittsburgh Metro is really carrying the whole state at this point (the state is having an average recovery, but without us would be having a poor recovery). Someone should really tell our Governor.
Yes someone should tell him about our job growth and to fund PAT so people will have a way to get to work.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Options
X
Data:
Loading data...
Based on 2000-2011 data
Loading data...

123
Hide US histogram

Over $84,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Pennsylvania > Pittsburgh

All times are GMT -6.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top