If you think the job market is tough in Western Pennsylvania, you are right. Apparently the economic recovery is taking a little longer to reach Pittsburgh than most of the country.
According to a story in the May 22, 2013 edition of the Pittsburgh Post-Gazette, recent data indicates Pittsburgh is ranked 32nd out of 40 major U.S. cities in terms of job growth over the past year. The story also explored the number of jobs gained or lost in different industries from 2008 to 2013. This information helps to shed some light on why so many of the Pittsburghers that I meet haven’t felt the effects of the economic recovery.
National growth, local struggle
Many of my bankruptcy clients express frustration that their finances are not improving even though they hear stories on the news about the growing national economy. The reason is simple, Pittsburgh’s job growth is not a rapid as it is in other cities. However, it is important to remember that Pittsburgh did not lose as many jobs during the Great Recession as many other areas of the country. It is interesting to note that while ranking 32nd out of 40 may not seem impressive, Pittsburgh ranks above other industrial cities like Detroit and Cleveland that have struggled to adjust to a new economy that doesn’t include as many manufacturing jobs.
Whether you’ve felt the economic recovery also depends on the industry in which you are trying to get a job. For instance, if you are trying to get a manufacturing job, you almost certainly haven’t seen the benefits of the economic upturn. In the Pittsburgh area, 9,200 manufacturing jobs were lost from 2008 to 2013. Sadly, due to outsourcing overseas and technological advancements, many of these jobs may never return. On the other hand, if you are trying to get a job in the natural resources industry, you might feel as if the economy is doing very well. Pittsburgh has seen an increase of 5,600 jobs in the natural resources industry from 2008 to 2013, almost entirely due to Marcellus Shale. This data is especially helpful for those looking to enter the workforce or those that are looking to get some new skills and make a career switch. It is always important to make sure that there is a demand for the area in which you are receiving training. I see too many clients that spend good money, either out of their pocket or in student loans, to attend college or technical school only to graduate and find there were no jobs in their field.
Help in hard economic times
Even though Pittsburgh may not be at the top of the class, we have seen modest job growth over the past year. Certain industries have seen large job increases, while others have slowly dwindled, possibly never to rebound. If you find yourself a victim of the economy, whether you have lost your job, taken a pay cut or your income has stayed the same while the cost of living has risen, you may find yourself having a hard time keeping up with your bills. Robbing Peter to pay Paul doesn’t have to be a way of life, even in a tough economy. Give Steidl & Steinberg a call. We may be able to help you eliminate or reorganize your debts through a Chapter 7 or a Chapter 13 bankruptcy in order to give you the fresh start you need in these challenging economic times.