Wednesday, April 29, 2015

100 months and counting

So I know the news makes all things sound so dire, but nonetheless the latest dump of labor force data puts Pittsburgh past 100 months since the local unemployment rate was above the national unemployment rate. There really has not been such an extended period that has ever happened in the past, at least as far back as labor force data was routinely reported at a regional level in the 1940s. Indeed the convergence between the two trends we need to watch, and I would not be surprised if the trend comes to and end, at least briefly, at some point this year... but in graphic below green is better than red....

Worth noting that the 2014 numbers are likely to be revised so we will see what this all looks like after those numbers get re-reported.