Pittsburgh’s November Jobless Rate Down to 4.2%

According to the Pennsylvania State Department of Labor and Industry the 7 county Pittsburgh Metro Area created a seasonally adjusted 1,100 new jobs in November. However, over 5,000 fewer people were looking for them, as the unemployment rate dropped from 4.6% to 4.2% which was down from 4.7% one year ago. Over the past year the Pittsburgh Metro job count has increased by 3,000 which translates into a .25% (that’s a ¼ of a point) increase year over year.

Strength in the Pittsburgh area came from the service sector including retail, education and health services, although hospitality saw another overall decrease. The drop in the number of people looking for employment was unexplained in the latest report. Historically it has meant fewer people thought a job search would pay off and partially due to a continued outflow of people living in the metro.

Out of the seven counties included in these figures, Allegheny and Butler counties each came in with the best individual rates seasonally adjusted at 3.9% for Butler and 4.0% for Allegheny. Other individual rates include Fayette County at 5.4% (down a full 1.1% from a year ago), Armstrong County at 4.4% (down from 5.4% 1 year ago), Beaver County at 4.4% with Washington and Westmorland Counties both coming in at 4.3%.

With housing prices remaining relatively stable in our area along with billions of dollars in new construction projects slated for 2008 and beyond, this upcoming year should still be one of continued overall job growth although it remains to be seen whether the pace of growth can pick up from an anemic ¼% over this past year.