June jobs report (Pittsburgh, Erie, Williamsport: job market, construction, utilities)

[BrianTH]

The preliminary monthly jobs report for the Pittsburgh Metro indicates year-over-year job growth picked back up a bit in June at +15,400 (+1.3%), versus a revised +10,900 in May (+0.9%):

http://www.bls.gov/eag/eag.pa_pittsburgh_msa.htm

Although still not quite as good as it was over the winter and spring, this is a very solid number for an area not experiencing rapid population growth--in fact the rest of Pennsylvania (meaning without including the Pittsburgh metro) was only +0.6%--and we are putting ever more distance above the pre-recession highs.

Mining and logging growth is still high in terms of percentages, but also still decelerating a bit, and with the relatively low base it actually isn't contributing that much to overall job growth. Construction is continuing to lose jobs, which is a major explanation for why overall job growth has slowed some. Manufacturing is barely growing, but at least it IS growing.

Most of the usual suspects are contributing well (Trade/Transportation/Utilities, Finance, Professional and Business Services, and Eds and Meds). Leisure and Hospitality has become an increasingly strong contributor in recent months, which is interesting. Government continues to lose jobs and be a significant overall drag.

[BrianTH]

Graph (pretty extraordinary):



As always, it is worth pointing out the original inflection point was more like 2006--the recession momentarily set us back, but we have had even faster job growth since the bottom.

[Evergrey]

Some more data you might find interesting...



clevelandfed.org

[Evergrey]

Originally Posted by BrianTH

The preliminary monthly jobs report for the Pittsburgh Metro indicates year-over-year job growth picked back up a bit in June at +15,400 (+1.3%), versus a revised +10,900 in May (+0.9%):

Pittsburgh, PA Economy at a Glance

Although still not quite as good as it was over the winter and spring, this is a very solid number for an area not experiencing rapid population growth--in fact the rest of Pennsylvania (meaning without including the Pittsburgh metro) was only +0.6%--and we are putting ever more distance above the pre-recession highs.

Mining and logging growth is still high in terms of percentages, but also still decelerating a bit, and with the relatively low base it actually isn't contributing that much to overall job growth. Construction is continuing to lose jobs, which is a major explanation for why overall job growth has slowed some. Manufacturing is barely growing, but at least it IS growing.

Most of the usual suspects are contributing well (Trade/Transportation/Utilities, Finance, Professional and Business Services, and Eds and Meds). Leisure and Hospitality has become an increasingly strong contributor in recent months, which is interesting. Government continues to lose jobs and be a significant overall drag.

Financial activities is booming.

Btw... I don't know if you noticed... but the June 2012 figure of 1176.0 is the all-time employment peak for Pittsburgh MSA... surpassing the 1172.1 posted in June 2001.

[BrianTH]

Originally Posted by Evergrey

Btw... I don't know if you noticed... but the June 2012 figure of 1176.0 is the all-time employment peak for Pittsburgh MSA... surpassing the 1172.1 posted in June 2001.

Yep (also beating the 1171.1 last November). It is a good bet there were never more people working in the Pittsburgh Metro than last month.

[Craziaskowboi]

Originally Posted by Evergrey

Financial activities is booming.

Btw... I don't know if you noticed... but the June 2012 figure of 1176.0 is the all-time employment peak for Pittsburgh MSA... surpassing the 1172.1 posted in June 2001.

I was actually looking for that information. Thanks!

It still amazes me that Pittsburgh's job market needed until 2001 to exceed its employment peak from 1979. It also amazes me that Pittsburgh is one of only a few cities to have more jobs now than five years ago.

[globalburgh]

The state numbers are also interesting:

Jobless Rates Rise as California, Ohio, North Carolina Add Most Jobs

Labor Department data released today indicates eight states recorded statistically significant increases in payroll employment for the month, and 27 states saw jobless rate increases.

California’s numbers were the most encouraging in the report, adding another estimated 38,300 jobs for the month after payrolls expanded by nearly 46,000 in May. Although the state’s unemployment rate fell to 10.7 percent from 10.8 percent, its job market still remains one of the nation’s weakest.

Ohio added an estimated 18,400 jobs in June, the second most of any state. The state’s seasonally-adjusted jobless rate has steadily dropped to 7.2 percent, down from 8.9 percent in June 2011.

North Carolina (16,900) and Pennsylvania (14,600) recorded the next-highest increases in nonfarm payroll employment for the month.

Pittsburgh's job creation engine is keeping PA in the black, with over 40 states failing to post significant gains.

[Craziaskowboi]

Originally Posted by globalburgh

Pittsburgh's job creation engine is keeping PA in the black, with over 40 states failing to post significant gains.

I'm starting to get tired of Pittsburgh carrying the entire state of Pennsylvania on its shoulders.

[Evergrey]

Originally Posted by globalburgh

The state numbers are also interesting:

Jobless Rates Rise as California, Ohio, North Carolina Add Most Jobs

Labor Department data released today indicates eight states recorded statistically significant increases in payroll employment for the month, and 27 states saw jobless rate increases.

California’s numbers were the most encouraging in the report, adding another estimated 38,300 jobs for the month after payrolls expanded by nearly 46,000 in May. Although the state’s unemployment rate fell to 10.7 percent from 10.8 percent, its job market still remains one of the nation’s weakest.

Ohio added an estimated 18,400 jobs in June, the second most of any state. The state’s seasonally-adjusted jobless rate has steadily dropped to 7.2 percent, down from 8.9 percent in June 2011.

North Carolina (16,900) and Pennsylvania (14,600) recorded the next-highest increases in nonfarm payroll employment for the month.

Pittsburgh's job creation engine is keeping PA in the black, with over 40 states failing to post significant gains.

Ohio's newfound gains are largely driven by a resurgence of manufacturing in that state.

[Evergrey]

Originally Posted by Gnutella

I'm starting to get tired of Pittsburgh carrying the entire state of Pennsylvania on its shoulders.

Erie and Williamsport are doing their parts!