Tuesday, May 01, 2012

Peak Labor

So you may miss the big story in the latest labor force data being reported.  No equivocation necessary in that the data is showing the region's labor force is larger than ever in the past.  And I know the story is usually written in terms of local folks moving in and out of the workforce, but it really is much more a migration story.  Labor force participation rates are far less volatile than people think, certainly less volatile than regional migration flows.   Add in the fact that in general labor force participation rates are still declining nationally then for there to be an increasing labor supply locally you can do the division to inpute what must be the continuing migration story for Pittsburgh. 





4 Comments:

Anonymous BrianTH said...

The City of Pittsburgh (numbers available through the state report) also continues to share in the strong labor force growth.

Tuesday, May 01, 2012 10:57:00 AM  
Anonymous Evergrey said...

You can see the regional labor force really started to take off in 2006 before a hiccup during the Great Recession... imagine where we might be today if not for that extraordinary economic contraction? I declare 2006 the birth of the new Pittsburgh... when we finally shook off the last shackles of steel malaise.

Tuesday, May 01, 2012 11:07:00 AM  
Blogger BrianTH said...

I'd even suggest that if not for the housing bubble unsustainably drawing investment and people to other locales, our clear reversal in statistical fortues would have started even sooner.

Tuesday, May 01, 2012 2:32:00 PM  
Anonymous Alex B. said...

The article behind your Tweet on Las Vegas mentions the Hachman Index which is not a philosophically difficult index, but I don't think I ever run into that in any of you discussions. Any reason?

Thursday, May 03, 2012 9:54:00 AM  

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