Several Indicators Reveal Pittsburgh Falling Behind Economically (Washington, Monaca: rent, how much)

[corpgypsy]

In news that can be used ( by some ) this Post Gazette article cites facts that reveal Pittsburgh is falling behind economically. These indicators do appear to be cause for concern.


Len Boselovic's Heard off the Street: The Fed says Pittsburgh's economy is falling behind....

Pittsburgh Post-Gazette-Oct 23, 2016

[Lost_In_Translation]

Disappointing, but given the collapse in gas pricing, not unsurprising, the economy got a huge boost from gas production in southwest PA and now has a slight hangover, but I feel the year over year growth will rebound after things sort themselves out in the energy business.

[corpgypsy]

Originally Posted by Lost_In_Translation

Disappointing, but given the collapse in gas pricing, not unsurprising, the economy got a huge boost from gas production in southwest PA and now has a slight hangover, but I feel the year over year growth will rebound after things sort themselves out in the energy business.

Although energy possibly played a part in this report, the decline and bad news was generally across the board in four major sectors that saw growth nationally, and where Pittsburgh saw decline, over the same period: manufacturing; government; information; trade, transportation and utilities.


" Pittsburgh’s unemployment rate jumped from 4.8 percent in December to 5.7 percent in July. It rose to 5.9 percent in August." ( statewide unemployment rate: 5.6 percent; national unemployment rate: 4.9 percent) "Pittsburgh region employment grew only 0.2 percent during the 12-month period ended in March versus statewide growth of 1.1 percent and nationwide growth of 1.9 percent."

[Mtl-Cns]

Are they talking about the city or the entire metro area in relation to these metrics? Headline seems to say city and article seems to talk about the "region" and mentions Washington County.

[bluecarebear]

It comes as no surprise to those of us whining about the rent and gentrification for years. I'm afraid the same is going to happen with the new Monaca plant. Temporary jobs but not much in the long run.

[Lost_In_Translation]

Originally Posted by corpgypsy

Although energy possibly played a part in this report, the decline and bad news was generally across the board in four major sectors that saw growth nationally, and where Pittsburgh saw decline over the same period: manufacturing; government; information; trade, transportation and utilities.


" Pittsburgh’s unemployment rate jumped from 4.8 percent in December to 5.7 percent in July. It rose to 5.9 percent in August." ( statewide unemployment rate: 5.6 percent; national unemployment rate: 4.9 percent) "Pittsburgh region employment grew only 0.2 percent during the 12-month period ended in March versus statewide growth of 1.1 percent and nationwide growth of 1.9 percent."

Manufacturing continues its slide pretty much everywhere, government decrease could actually be seen as a good thing long term, information is still struggling in Pittsburgh and remains to be seen how much of a job driver it could be, trade I assume includes banking which has been consolidating.but I think will pick up with the energy sector rebound. Transportation is on decline locally I'm sure with manufacturing decrease and utilities still reflects the failing coal sector heavily. I think this is not bad news, just more of the same news without the corresponding good news of the new tech sector, which has become pretty overheated. I believe we're still in a pause where the old industries are still dragging down the metro and the new industries haven't yet found their stride but the evolution continues and I'm optimistic for the future.

[Moby Hick]

Originally Posted by Mtl-Cns

Are they talking about the city or the entire metro area in relation to these metrics? Headline seems to say city and article seems to talk about the "region" and mentions Washington County.

It is the region and some counties are really dragging us down.

Unemployment in the Pittsburgh Area by County ? June 2016 : Mid?Atlantic Information Office : U.S. Bureau of Labor Statistics

[gladhands]

Originally Posted by Mtl-Cns

Are they talking about the city or the entire metro area in relation to these metrics? Headline seems to say city and article seems to talk about the "region" and mentions Washington County.

It's about the MSA. I honestly couldn't care less what happens in five of the seven counties in the Pittsburgh MSA.

[Lost_In_Translation]

Originally Posted by bluecarebear

It comes as no surprise to those of us whining about the rent and gentrification for years. I'm afraid the same is going to happen with the new Monaca plant. Temporary jobs but not much in the long run.

If you are referring to the new Shell plant, they havent even begun construction yet and the corresponding supporting plants will have plenty of good paying jobs. Not to mention all the manufacturers that will bring new tech to the facilities locally.

[bradjl2009]

When is construction supposed to get started on the cracker plant? Early next year?