Moving forward, Pittsburgh’s industrial market will be driven by R&D for AI and robotics (High Tech). High Tech space currently makes up a small percentage of total inventory, but there will be a shift in the number of users in the coming quarters, and a successful startup within the burgeoning High Tech scene could transform the city.
Pittsburgh’s unemployment rate dropped to 3.8% in the second quarter of 2019, which is the lowest rate since 1976, but still lags modestly behind the national average. There were 8,900 new jobs created in the quarter, demonstrating a slight uptick year-over-year.
The U.S. Department of Labor’s Bureau of Labor Statistics reported that manufacturing employment in the Pittsburgh region was approximately 84,700 employees in February 2019, its lowest in a given month since 1990.
Unemployment in the Pittsburgh region hit its lowest level in nearly half a century, dropping to 3.6% in February 2019.