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Old 06-15-2012, 12:48 PM
 
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May jobs in the Pittsburgh area still increased at a decent rate over the year, but there has definitely been a slowdown in pace in the last couple months:

Pittsburgh, PA Economy at a Glance

A lot of our usually strong sectors are still doing quite well (mining/logging, finance, professional/business services, and eds/meds). Government is still losing jobs, but that has slowed down. The biggest difference is construction, which went from strong gains earlier in the year to increasing losses in the last three months.

At a guess, a lot of that is some sort of weather effect throwing off normal seasonal patterns. Still, it would be disappointing if construction didn't eventually return to a source of growth.

By the way, Pittsburgh once again was carrying the state. Year over year we were up 12,800 jobs, about 1.1%. The state was up 27,800 in total, which is about 0.5%. If you look at the state minus Pittsburgh, that gain of 15,000 is only about 0.3%. So the Pittsburgh region is growing jobs at a rate over three times as fast as the rest of the state.
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Old 06-15-2012, 01:09 PM
 
Location: Pittsburgh
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There are a lot of projects on the books right now. I'd imagine construction should speed up?
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Old 06-15-2012, 01:31 PM
 
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Quote:
Originally Posted by AaronPGH View Post
There are a lot of projects on the books right now. I'd imagine construction should speed up?
Construction has so many facets it is hard to know. I only really pay any attention to major office, hotel, and residential projects, and then only in some markets. Meanwhile, lots of construction is in things like utilities, roads, and so on.
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Old 06-15-2012, 01:59 PM
 
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As long as it dosnt grind to a halt when we get there. Two more weeks!!
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Old 06-15-2012, 02:01 PM
 
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1.1% annual growth is still crazy-fast for this region.
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Old 06-15-2012, 03:28 PM
 
Location: Pittsburgh, PA
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Quote:
Originally Posted by BrianTH View Post
1.1% annual growth is still crazy-fast for this region.
Considering how much the US economy as a whole has slowed down in the past 3 months with job creation, 1.1% growth is very good. I remember reading somewhere that the recent jobs slow down may actually be related to the warm weather becuase companies hired for jobs such as construction earlier than they normally would.
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Old 06-22-2012, 05:16 PM
 
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Quote:
Originally Posted by BrianTH View Post
Government is still losing jobs, but that has slowed down. The biggest difference is construction, which went from strong gains earlier in the year to increasing losses in the last three months.
Government austerity and lack of infrastructure investment is sucking demand out of the economy.

Construction languishes as federal funding drops - Pittsburgh Business Times

Quote:
Construction languishes as federal funding drops


Pittsburgh Business Times by Jordan Markley, Editorial Intern
Date: Friday, June 22, 2012

...

Employment in the local construction industry was down substantially in May, and uncertainty over the future of federal funding for new projects is causing headaches for area businesses, executives said.

...
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Old 06-22-2012, 05:24 PM
 
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Yeah, we knew about losses of direct government employment being a drag, but then there are people employed in virtue of government contracts. Given the incredibly low borrowing rates right now and the elevated unemployment in construction, it is a real shame we aren't taking this opportunity to do a bunch of valuable capital projects.
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Old 06-26-2012, 10:47 AM
 
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Labor force and unemployment data now available as well:

Monthly News Releases

Year over year labor force:

Metro: +15,900 (+1.30%)
Allegheny County: +8,800 (+1.36%)
City of Pittsburgh: +2,400 (+1.58%)

As always, the growth of the local labor force is a hugely underreported story, as is the fact it is growing disproportionately strongly in Allegheny County, and even more disproportionately strongly in the City.
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Old 06-26-2012, 09:27 PM
 
Location: The canyon (with my pistols and knife)
10,647 posts, read 10,358,711 times
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Quote:
Originally Posted by BrianTH View Post
Labor force and unemployment data now available as well:

Monthly News Releases

Year over year labor force:

Metro: +15,900 (+1.30%)
Allegheny County: +8,800 (+1.36%)
City of Pittsburgh: +2,400 (+1.58%)

As always, the growth of the local labor force is a hugely underreported story, as is the fact it is growing disproportionately strongly in Allegheny County, and even more disproportionately strongly in the City.
Somewhere, Bill Steigerwald cries.
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