February 14, 2024

Pittsburgh, PA – December 2023 Jobs Report – Steel City Sees Stellar Job Growth Despite Slight Uptick in Unemployment

Jobs Report, Pennsylvania, Pittsburgh, PA

The Pittsburgh Metropolitan Statistical Area (MSA) ended 2023 with a positive outlook on its job market. While the unemployment rate edged up slightly, overall job growth reached record highs and key industries continued to expand. This report breaks down the key takeaways from the December 2023 jobs report for Pittsburgh.

Highlights:

Record low unemployment: The Pittsburgh MSA’s unemployment rate hit a record low of 3.4% in December, surpassing the national average of 3.7% and representing a significant improvement from December 2022’s 4.5%. [1]
Job growth at its peak: Total nonfarm jobs in the region climbed to a record high of 1,132,100, marking an increase of 10,800 over the year and solidifying 2023 as a year of remarkable job creation. [2]
Strong gains in key industries: Education and health services, professional and business services, and construction witnessed the most significant job growth, reflecting regional strengths in healthcare, technology, and infrastructure development. [2]

What Industries and Occupations Grew:

Education and health services: This sector added nearly 59,000 jobs, primarily driven by healthcare and social assistance positions.
Professional and business services: This sector expanded by 19,800 jobs, fueled by growth in professional, scientific, and technical services occupations.
Construction: Construction jobs surged by 13,400, reflecting ongoing investments in infrastructure and commercial development.
Top 10 Growing Occupations: Registered nurses, software developers and applications, physician assistants, physical therapists, financial managers, marketing specialists, computer systems analysts, management analysts, construction laborers, and customer service representatives.

What Industries and Occupations Shrank:

Leisure and hospitality: This sector shed 3,000 jobs, likely due to seasonal fluctuations in tourism and recreation.
Other: Manufacturing and information industries also experienced minor job losses.

Compare to Same Month Last Year:

Unemployment was down significantly from 4.5% in December 2022, highlighting a tighter labor market and increased competition for employers.
Total nonfarm jobs were up by 9.1% compared to December 2022, showcasing sustained economic growth in the region.

Compare to Previous Month:

The unemployment rate edged up slightly from November’s 2.9%, but remained well below pre-pandemic levels.
Total nonfarm jobs saw a minor decline from November’s peak, potentially reflecting seasonal adjustments.

Future Outlook:

The Pittsburgh MSA’s job market is expected to remain robust in 2024, driven by ongoing investments in technology, healthcare, and infrastructure. However, challenges such as a tight labor market and rising inflationary pressures could hinder further growth.

10 Companies Hiring Now:

Cited Resources: