Monday, April 14, 2008

How is The Pittsburgh Job Market Faring Now?

As we enter mid-April having been witness to all the economic carnage across the country every day in our living rooms courtesy of the news media, how is the job market here in Pittsburgh faring?As a media that includes weekly print, one of the largest job boards on the Internet and Comcast Video on Demand Jobs across southwestern Pennsylvania we continue to see strong demand across most hourly job categories that is higher than what we saw a year ago.In March the Monster Employment Index, which measures the level of online recruitment activity in select markets around the country, named Pittsburgh one of the 4 hottest metros in the country for online ad volume.According to Harold Miller, President of Future Strategies, LLC, a consulting firm specializing in analysis, strategy, and communication and a contributing columnist for the Pittsburgh Post-gazette on economic matters, the reason for this strength is not job GROWTH, but the demand for replacement workers. With Pittsburgh being one of the oldest markets in the country, as measured by median age of the population, the number of residents entering retirement years is beginning to exceed the number of younger workers entering the labor force. This is creating a higher number of opportunities for employment across most categories. The most in-demand workers continue to be anything in the healthcare field.Another helpful influence to remaining strong in employment opportunity is the local housing market. While many areas of the country experienced double digit growth in home values due in part to speculators and low interest rates, the Pittsburgh housing market saw only gradual, sustainable growth of a few percentage points per year. Because of this, home values never reached levels beyond reality and so are projected to continue slow sustainable growth in the future. These reflections on our local economy do not mean we will not and have not felt the effects of the