The 24 hour news cycle can be brutal. Just beyond greater Pittsburgh, but near the center mass of Cleveburgh is Trumbull County, Ohio... home to Warren, Ohio and part of the Mahoning Valley were these two stories recently:
24 hours ago the headline was: Valley employment picture improving
Then a half day later:Over 1,000 RG Steel Workers to be Laid Off. All of those 1,000 jobs are located in Trumbull County, a county with a total population just over 41K in 2010.
No schadenfreude here... those headlines were de rigeur here we all know. Still, the recent news for Pennsylvania is that mass layoffs are low and declining.
and while some say steel in the greater region is still improving, there are some bigger issues on the horizon. Steel is ever more an internationally traded commodity. Just yesterday the US slapped tariffs on steel imports from India. Whatever the details are in that trade spat, the bigger issue that will only exacerbate the problems of domestic steel producers is the continued appreciation of the US dollar. Stronger dollar = harder for US producers to sell products elsewhere. It is a particular issue in the steel industry.