Stuart Hoffman and Kurt Rankin are, respectively, senior economic advisor, and VP and economist, for the PNC Financial Services Group.
A Troubling Economic Picture
The Pittsburgh metropolitan statistical area’s economy enters 2022 in much the same condition as it exhibited prior to the pandemic. That is, growing, but doing so at a pace below the national average and under the yoke of subpar labor market conditions. Even though the bar has been lowered as to what economic growth targets …
2021 Economic Outlook
Economic recovery prospects in the Pittsburgh metro region are challenging for 2021. Government-mandated business closures and capacity limitations have sunk the metropolitan area’s labor force into steeper-than-average declines, undermining the ability of existing household consumption and business expenditures to reignite economic gains in the near term. New stimulus from the federal government may well provide …