Tuesday, May 01, 2012
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.