PITTSBURGH — Pittsburgh’s economic rebound is starting to “stagnate” as other markets catch up, according to a new report from the Allegheny Conference on Community Development, which also found some sectors of the economy now meet the qualifications of being in a depression.
The report noted the Pittsburgh region’s job growth between May and November, which added new jobs each month after bottoming out in April. The period between November and December, however, saw more jobs lost than gained, likely due to new restrictions on restaurants and public gatherings around the holidays imposed by county and state officials. The loss of jobs in construction and educational-related segments of the economy remained consistent with season trends during that time of year, the report said.
Compared to other similar-sized cities, Pittsburgh’s rebound is slowing, the Allegheny Conference said. In fact, eight of the 15 benchmark regions have regained a higher percentage of jobs than Pittsburgh as of December compared to the three cities that could report the same in September. Overall, the Pittsburgh Metropolitan Statistical Area (MSA) is still outpacing the nation in the percentage of jobs regained since April at 67.8%, compared to the country’s 64.8% average of all jobs recovered.