Wednesday, September 02, 2009
So it's not quite a record in either duration or depth... but to add something to the news yesterday that the regional unemployment was up a tenth of a percent. Here is my graphic of the relative unemployment rate.. i.e. the Pittsburgh unemployment rate minus the US unemployment rate. FWIW it has now been 33 months where the local unemployment has been below the nation's. Barring some historic rate of convergence in coming months it will be a uniquelong and divergent period even compared to the few periods in recent decades where the local unemployment rate dipped below the nation.