Monday, April 26, 2010

Report: Only 16 of 384 Metro Areas in U.S. gaining jobs

I caught this report and thought it was worth sharing.  The headline summarizes it nicely: only 4% of metro areas in the U.S. are currently gaining jobs, and Allentown-Bethlehem-Easton is not one of them. 

Gains have come that have brought us back from the recession, but those gains are not in employment; instead, they are in housing construction and manufacturing.  In that segment of the economy, the ABE metro area is recovering - housing construction is up over 50% from a year ago and industrial production is up as well, albeit barely (.11% to be exact).  Both of those numbers are better than the Pennsylvania average, and our employment decrease (-2.77%) is barely less than Pennsylvania's as a whole (-2.73%).

Employment is starting to rebound, but still slowly, and this report is yet another indicator that the recovery has been a jobless one so far.

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