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Metro Mix — Pittsburgh, Pennsylvania

Snapshots of economic conditions and prospects for MSAs in the Fourth District

Pittsburgh Metro Mix (September 2018) | PDF

After nine months of the first meaningful employment gains in five years, employment growth in the Pittsburgh metro area stalled in the final quarter of 2017. During 2017, 7 of the 10 major industry sectors increased employment, and 3 sectors decreased employment. The unemployment rate fell in the first half of 2018, but it fell for the wrong reason—the size of the area’s labor force fell sharply. The metro area’s housing market tightened in early 2018, as evidenced by accelerated increases in home prices and mortgage debt in the metro area. Despite this tighter housing market, residential building permit issuance remains very low in the metro area. Inflation-adjusted GDP per capita and inflation-adjusted income per capita were essentially unchanged from 2015 to 2016 in the metro area. The metro area’s consumer debt levels and credit card delinquency rate are still substantially lower than state or national levels. Read more…