In this section our group of undergraduate economics researchers will publish periodic reports on the Pittsburgh Economy. If you are interested in seeing specific topics being covered, don't hesitate to reach out to us!
Summary:
The results from this report show the overall change in income by different racial demographics and also earner percentile. One of the key observations to take note of is the staunch income equality among Asian Americans and how Asian American income growth has stagnated relative to all other races. The report finally predicts that the income will continue rise the most with Whites within Pittsburgh and will continue to increase in the future.
Summary:
This report investigates migration in and out of the Pittsburgh Metropolitan Statistical Area (MSA). Inflows into Pittsburgh are mostly regional. When we adjust for population, large MSAs like Philadelphia and Washington DC are replaced by smaller, more local MSAs. We see that Pittsburgh has a lower unemployment rate and a higher increase in weekly wages. On the outflow side, Pittsburgh residents leave the area for cities locations across the country, such as Chicago, Los Angeles, and New York. Even then, the top ten locations are situated on the East Coast. These MSAs have on average lower unemployment and greater increase in wages.
Summary:
The results from this report reveal that iron, steel mills, and steel product manufacturing have seen the biggest decline in the labor force population out of the investigated steel and manufacturing-related industries. This is primarily due to Pittsburgh’s steel and manufacturing sector displaying a consistent steady decline over time. The results also show that following the deindustrialization of the U.S. in the late 20th century, there has been a noticeable shift in the occupational job position composition within Pittsburgh's steel and manufacturing sector that can be attributed to a decrease in the demand for blue-collar positions within the industry.
Summary:
The results from this report reveal that the overall cost of living in Pittsburgh increased in recent years, and the medical care had the greatest impact on the increasing price level in Pittsburgh. The results also show that the financial crisis in 2008 did not have much impact on Pittsburgh compared to its effects on Pennsylvania and the U.S. city average. The report finally predicts that the cost of housing in Pittsburgh will continue to increase in the future.