Similar to labor markets across the nation, employment levels in the Pittsburgh region contracted sharply with the onset of COVID-19 in early 2020. Though national employment levels have regained COVID-induced job losses, the Pittsburgh region employment levels remain below peaks reached prior to 2020. By various measures, employment in the...
According to data compiled by the Federal Housing Finance Agency (FHFA), residential housing prices in the Pittsburgh metropolitan statistical area (MSA) are increasing at the fastest rate since the 1970s. In the 3rd quarter of 2021, Pittsburgh region housing prices jumped by 13.4% compared to the year prior, the fastest year-over-year appreciation...
The Bureau of Economic Analysis (BEA) compiles annual estimates of personal income for all counties and metropolitan areas in the United States. In November, the BEA released updated local area personal income estimates for 2020. Per Capita Personal Income (PCPI) for the Pittsburgh Metropolitan Statistical Area (MSA) in 2020 is estimated to be...
Through the end of 2020, the COVID-19 pandemic has had significant and ongoing economic impacts both nationally and regionally. These employment impacts peaked during the spring of 2020 and resulted in temporary and extended job losses. While there was a rebound in regional employment levels from peak job losses in the spring, total employment in...
In December the Bureau of Economic Analysis (BEA) released updated estimates for Gross Domestic Product (GDP) for individual metropolitan and counties ares across the United States. GDP is a key economic metric estimating the value of the final goods and services produced in a regional or national economy. At the local level GDP can also called...
In December the Pennsylvania Center for Workforce Information and Analysis (CWIA) released updated projections of employment by industry and occupation for the state and individual metropolitan statistical areas (MSAs) within Pennsylvania. These projections estimate employment change over a ten-year period: 2018-2028 for both major industries and...
Across the nation, some of the worst-hit industries during the COVID-19 pandemic include restaurants and related food service industries. At the beginning of 2020, there were 4,226 restaurants and other eating places across the Pittsburgh region. In addition, the region had just under 600 establishments categorized as drinking places (alcoholic...
As both the regional and national economies continue to be impacted by the Covid-19 pandemic, evidence continues to show that the impacts have been far from even across the labor force. Similar to national trends, employment losses and depressed earnings been much starker for low-wage workers across the Pittsburgh region. The disparity of impacts...
The most recent data from the Pennsylvania Department of Labor and Industry show that claims for unemployment insurance (UI) compensation in the Pittsburgh region remained at historic levels through the end of May. For the week ending May 30, 2020 the seven-county Pittsburgh region recorded 4,693 initial claims for UI compensation, but the region...
April jobs data released today shows a sharp decline in employment across the Pittsburgh region. Total nonfarm jobs in the seven-county Pittsburgh Metropolitan Statistical Area (MSA) declined by 185,600 between March and April 2020. Total nonfarm jobs in the Pittsburgh region dropped to 990,000, compared to 1,175,600 in March 2020, and 1,194,500 in...
