The Pittsburgh region turned in a surprisingly strong job creation performance in 2007, adding 7,600 jobs from January 2007 to January 2008, according to state figures issued today.
"The 7,600 jobs for the Pittsburgh region, on a year-over-year basis, is not bad. If Pittsburgh can do that in what looks like a weakening national economy, that would be a great thing," said Jake Haulk, an economist and president of the Allegheny Institute for Public Policy, a think tank in Castle Shannon.
Total nonfarm jobs in the Pittsburgh region rose to 1,127,700 in January, compared with 1,120,100 in January 2007, an increase of 7,600 jobs, the state's Center for Workforce Information and Analysis said. The figures are determined from a survey of employers in the region. The rise compared to an increase of 10,700 jobs from January 2006 to January 2007.
The region's seasonally adjusted unemployment rate, meanwhile, rose slightly in January, up 0.1 percentage point, to 4.9 percent from 4.8 percent in December. That's the region's highest jobless rate since September 2006, the state said.
The seven-county region includes Allegheny, Armstrong, Beaver, Butler, Fayette, Washington and Westmoreland counties.
The region's January-January job growth rate in 2007 was 0.68 percent, almost identical to the U.S. job growth rate, said Harold D. Miller, president of Future Strategies LLC, Downtown, a consulting firm specializing in economic analysis and strategies.
"This suggests that we may be going into the recession slower. That's consistent with 2001, when we went into the recession slower, and came out slower," Miller said.
State figures showed that service-providing industries accounted for the majority of the over-the-year job growth. Gains were strongest in education, health care and business services. Manufacturing declined by 1,400 jobs.
While the jobs report is good news for the Pittsburgh region, "this is consistent with the broader softening of the U.S. job market," said Robert Dye, senior economist for PNC Financial Services Group Inc.
"Pittsburgh will not escape the broader effects of the recession in the first half of 2008," Dye said, adding that he believes the recession "will be short and shallow."
The region will benefit from having a strong medical services and education base, which is "recession-resistant," Dye said.
A separate survey of residents of the seven counties showed an increase of nearly 4,000 more on the job in January, or a total of 1,150,500, compared to 1,146,800 in January 2007. Residential employment considers those living in the Pittsburgh region but working outside the area.
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