More Signs of Recovery

 

Dear Friend, 

 

Building on the good jobs news we reported earlier this month, February preliminary job numbers show that Pittsburgh had the highest job growth rate for a second straight month.  The year-over-year increase was 2.18 percent or 23,700 jobs, the highest of any region.  In addition, the two-year job growth rate was positive for the first time since perhaps the recession began.

 

Of particular note, private jobs were up 2.46 percent, goods-producing jobs were up 3.18 percent and service jobs were up 2.04 percent.  Natural resources, mining and construction was up an astounding 7.17 percent, and leisure and hospitality jobs were up 4.62 percent.  In fact, every sector had year-over-year gains except for Information.

 

February 2011 Jobs 

 

Furthermore, data from the Federal Housing Finance Agency for the 4th quarter of 2010 show that Pittsburgh again had the highest 1-year and 5-year appreciation rates at 1.6 and 9.0 percent respectively.

 

Lastly, bankruptcy filings in the federal court district that includes Pittsburgh were down 3.18 percent year-over-year in the 4th quarter of 2010.  That was the steepest decline of any region and most regions actually saw increases.

 

Sincerely,

 

Doug Heuck

Program Director

PittsburghTODAY