Tuesday, July 02, 2013

Pittsburgh MSA unemployment down 2/10ths

The latest labor force data for the Pittsburgh region is out.  May 2013 = 6.9% unemployment, down 2/10ths from April. It is now 79 months since the region's unemployment rate was higher than the national unemployment rate. I was watching the recent trend toward convergence over the last year, but last few months some indication of a turnaround. Still one of the more important things to watch because the relative unemployment rate difference is a decent predictor of domestic migration at the metropolitan level.  Here is an updated graphic I watch:

1 Comments:

Anonymous BrianTH said...

I wonder if the partial convergence in local versus national unemployment (looking back farther) helps explain the apparently slowdown in labor force growth in recent months, which in turn has allowed employment growth to reduce the local unemployment rate at an accelerated pace recently. And if that is approximately right, I wonder where this all reaches equilibrium.

Also, Professional and Business Services accounted for way more employment growth over the last year than Mining and Logging, even more so if you add in Financial Activities. Just saying.

Tuesday, July 02, 2013 3:19:00 PM  

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