Stuart Hoffman

Stuart Hoffman is chief financial economist of PNC Financial Services Group.

Despite Lull, Pittsburgh Poised to Grow Faster

Greater Pittsburgh’s economy is in a precarious situation to start 2017. The seven-county region’s unemployment rate rose sharply through the second half of 2015, nearing 6 percent—a level not seen since 2014 when the recovery was just gaining real momentum. Prior to the 2008–09 recession, Pittsburgh’s unemployment rate mirrored national trends for 20 years. So …

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The 2015 Economic Outlook

Southwestern Pennsylvania is in solid economic shape entering 2015. Employment is holding near all-time highs, and the seven-county unemployment rate has fallen to just under 5 percent—with the historic low of 4.1 percent in sight for 2016. But stalled labor force growth since late 2012 should temper excitement regarding the unemployment rate’s descent, as a …

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