Robust Labor Force Growth
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Dear Friend,
The May employment numbers show that unemployment in the Pittsburgh MSA has dropped from 7.3 percent in May of 2011 to 6.7 in May of this year. To view the numbers please click here. Pittsburgh continues to have a strong showing, with the fourth lowest unemployment rate among the 15 benchmark regions. However, in a key component of regional economic strength underlying the unemployment numbers -- labor force growth -- Pittsburgh leads all regions by a wide margin. Between May 2011 and May 2012, the Pittsburgh labor force grew by 1.22 percent to reach its highest level ever for the month of May. Labor force growth shows confidence among workers that they are likely to find jobs. The benchmark average, by comparison, was a labor force growth of just .09 percent. For more information about how Pittsburgh fares in a variety of measures, please visit Pittsburghtoday.org
Part IV of PittsburghTODAY's Venture City series, "Keeping Companies Here," is now available online here.
Sincerely, Douglas Heuck Program Director PittsburghTODAY |
