Former Pittsburghers who consider a move back to Pittsburgh a possibility (New Kensington: wage , community)

[guylocke]

In case you missed this.

There's been a lot of talk about the local economy. I've seen the words "stagnant" "terrible" and "sooooo bad" used to describe it. I am posting these things that have come out in the last year or so, maybe it will give some people a different perspective, one that I've always believed. Pittsburgh's economy isn't a powerhouse and certainly isn't outpacing the national average, but it's far from bad and is actually quite robust and still growing considering the complete transition we've had to make over the last couple decades.

Private Sector: Pittsburgh's economy / Myths vs. realities

This is from the Education Portal.

Quote:
Pittsburgh's Economy at a Glance

Pittsburgh is the center of the southeast Pennsylvania region, an area with a population of over 2 million. Once a major manufacturing hub, Pittsburgh suffered as factory production left starting in the 1970s for other states and countries. However, with a mix of creativity and flexibility, in the years since Pittsburgh has recreated itself as a vibrant center for health care, education and high-tech research. Now, with one of the country's lowest costs of living, the Pittsburgh region is a hot prospect for savvy young workers.

This is from the post-gazette this past March.

Quote:
Given the sluggish gains in payroll employment, it is surprising -- and encouraging -- to find that the growth of personal income in the Pittsburgh area has matched or exceeded not only that reported in other manufacturing areas but in the nation as a whole. In 2005 -- the latest year for which data is available -- the per capita income in the Pittsburgh area was $36,000, slightly above the U.S. average of $35,000.

Even more impressive was the fact that in 2005, Pittsburgh ranked 54th in the nation as compared with a ranking of 60th in 1999. This performance compares very favorably with a sizable drop in the rankings of all the other major metropolitan areas in the Fourth Federal Reserve District. Cleveland, which ranked 42nd in the nation in 1999, fell to 61st place in 2005. And Columbus, Ohio, which placed 59th in the country in 1999, ranked 68th in 2005.

The statistics on unemployment tell a very similar story. Last year, the jobless rate in the Pittsburgh area averaged 4.8 percent, slightly above the 4.5 percent rate recorded in 1999 and very close to the national average of 4.6 percent. Elsewhere in the Fourth Federal Reserve District, however, the increase in the jobless rate between 1999 and 2006 generally ranged between one and two percentage points.

For instance, last year's unemployment rate in the Cleveland area was 4.7 percent, up from 2.7 percent in 1999. And in Lexington, Ky., the jobless rate climbed from a very low 2.1 percent in 1999 to 4.6 percent last year. To a degree, of course, Pittsburgh's low jobless rate can be attributed to the lack of growth in the area's labor force. But in addition, it can be argued that Pittsburgh now has a more stable -- and secure -- economic base than it did in prior years.

Turning for a moment to the housing market, it is clear that the national boom in home-building activity that has now collapsed bypassed the Pittsburgh area, which saw the trend of building permits issued for new residential construction remain essentially flat from 1999 through 2004. During the same time period, the number of building permits issued in the nation as a whole advanced nearly 25 percent.

The Pittsburgh market has not entirely escaped the slump in new residential construction activity as evidenced by the significant decline in the number of permits issued in both 2005 and 2006. But this downturn appears relatively insignificant when compared with the much larger declines expected in many areas of the country, including California, Florida, Arizona and Nevada.

To sum: While the forthcoming Mellon/Bank of New York merger raises a number of unsettling questions, we continue to take the position that Pittsburgh has finally shaken off the negative effects of a steadily deteriorating industrial economy. While many other regions and metropolitan areas are still struggling to cope with the decline of their once dominant manufacturing industries, Pittsburgh has completed the painful transition from an industrial economy to one increasingly based on service-related activities, including health care, information technology and financial services.

[kpoeppel]

Social Security income isn't taxed in PA, which is one of the reasons there are so many senior citizens here.

The large elderly population does result in strong job growth in health care, but that's about it. Health care is the main "growth" industry in Pittsburgh. I sometimes joke that if it weren't for all of the elderly people having heart-attacks, we wouldn't have much of an economy at all.

Unfortunately, most of the elderly population remembers "the good old days" when steel was king and organized-labor called the shots. Many are still bitter about the decline of steel, plant closings, etc...and they long for the past. They aren't exactly voting for change or looking to the future. They are mainly concerned that those rascally republicans will take away their social security (which is, for many around here, their ONLY source of income, since they've been conditioned to rely on "Someone Else" for their income most of their lives.) It's very sad, really. The ones who took initiative, made something of themselves, and made money...moved to Florida.

[beth ann]

Here's the "good, bad and ugly"...lol on Pgh economy

Good:
Westinghouse
Slow steady growth coming....10 years down the road
Looks good when compared to Cleveland, Detroit, Toledo

Bad:
Growith in Pgh economy failed to match Natl averages
Mellon HQ following Alcoa....leaving Pgh for NY
Pop decline - steady and consistent decline
High businesses taxes keep businesses away
Looks bad when compared to rest of nation

Ugly...lol..
Casinos (even tho they provide leisure and construction jobs, Pgh ranks 35th out of 40 in professional and business svc job growith)

I cut and pasted following two articles for your reading pleasure

Regional economy to trudge along on slow track
By Thomas Olson
TRIBUNE-REVIEW
Sunday, February 25, 2007

SLOW GROWTH TRACK: The Pittsburgh area is on track to produce about 9,400 jobs in 2007, the third consecutive year of gains but 1,000 shy of last year's increase, say projections from PNC Financial Services Group.





The Pittsburgh Metropolitan Statistical Area
by Christian Miller and Brian Rudick

Since the last business cycle peak, in March 2001, Pittsburgh has lost 1.5 percent of its jobs, compared to Pennsylvania's gain of 1.2 percent and the nation's gain of 3.6 percent. In this respect, the metro area bears a closer resemblance to other Fourth District MSAs than to Pennsylvania as a whole. Pittsburgh’s employment growth began to improve in 2006.

[Maaz]

Originally Posted by londonbarcelona

*groan* I HATE Giant Eagle, it's such a dump! How do I try to bring it to the media's attention? Not that Eagle is such a dump (which is IS compared to so many other grocery stores) but to actually GET a Wegman's in this area! Pittsburgh is so behind the eight ball in retail. (I know you have Robinson Towne Center - most cities have one of those in every neighborhood.)

If you build it they will come.................. *smile*

Thanks

A few of the city Giant Eagles are dumps, but most are fine. It's not uncommon for city stores to be smaller and not as nice as suburban stores. A major exception is the Giant Eagle Market District in Shadyside which is nicer than any suburban Giant Eagle (other than the other Market District in the South Hills).

I completely disagree with you about being behind in retail though. Could you imagine having a Robinson Town Center in every Pittsburgh city neighborhood? There would be like 90 of them and that would be totally ridiculous. We already have the same chain stores in all the major suburbs (North Hills, South Hills, Monroeville, Homestead Waterfront, etc.).

You fail to realize that Pittsburgh is a city, just like New York, Chicago, Washington D.C., etc. It's not a bunch of suburbs connected together to pretend to be a city like Orlando or Tampa/Clearwater/St. Petersburg where having a Robinson Town Center type complex or a Wal-Mart or Walgreens complex is common in every neighborhood.

Maaz

[Katiana]

Now think about what you just said. An aging population is not a super good thing, believe me, but don't you think a lot of these people aging and retiring will clear the way for more jobs?

The above idea seems to be getting a lot of press, at least in this forum. Unfortunately, there are not a lot of people in Pgh ready to retire. Why? An article in the PG about two years ago stated the obvious: the older baby boomers are the ones who left when the steel industry collapsed. See the link below for documentation. The smallest age group under 65 is the group age 60 - 64, and only the 84+ group is smaller overall.

http://factfinder.census.gov/servlet...mat=&-_lang=en

[globalburgh]

Unfortunately, there are not a lot of people in Pgh ready to retire. Why? An article in the PG about two years ago stated the obvious: the older baby boomers are the ones who left when the steel industry collapsed.

You make a good point. Pittsburgh is moving through its elderly demographic bulge earlier than most regions. The "Boomer Brain Drain" won't really hit Pittsburgh that hard, assuming boomers don't migrate to Pittsburgh when they retire. In fact, that demographic is already putting the "boomer" in Pittsburgh's boomerang migration experience.

[guylocke]

You make a good point. Pittsburgh is moving through its elderly demographic bulge earlier than most regions.

Yep, analysts believe that Pittsburgh will enter but also leave this elderly time faster than rest of the country. In fact, when the rest of the country in entering it (which is going to start happening quite soon) Pittsburgh will be exiting and will have the upper hand. It's almost ironic, isn't it? lol!

[PApisces]

Originally Posted by boylocke

Yep, analysts believe that Pittsburgh will enter but also leave this elderly time faster than rest of the country. In fact, when the rest of the country in entering it (which is going to start happening quite soon) Pittsburgh will be exiting and will have the upper hand. It's almost ironic, isn't it? lol!

This whole talk of aging and the elderly is getting scary...I am not quite ready to take the position of "Tribal Elder" just yet! ;-)

[guylocke]

BTW, I just posted new news (woah that's awkward) about the tax breaks for downtown living under "Happenings in Pittsburgh." Go check it out!! The tax breaks are real! It's a really great start!

[aalewis0807]

I feel the same way. I currently live in Austin, TX and miss the feel of the burgh. However, I want to move closer to Pittsburgh, but not back. I'm thinking Philadelphia in four to five years.

I go back and forth with the moving idea, Texas has been good to my family and summer all year around is kind of nice (although the heat is killing me). I'm not fond of the winter either.

We'll see.
Take care