From to , Pittsburgh business experienced a golden age. Iron from Pittsburgh was used in projects around the country. The value of goods from Pittsburgh in was more than the value of goods from Detroit and Cleveland combined. Other steel industry leaders included George Westinghouse and the Mellon Family. The iron and steel industry brought great wealth to Pittsburgh business. But focus on this one area became a weakness when the price of steel dropped. With its fortunes tied to steel, the city began to lose ground in the midth century.
After a strike in , American companies began to import steel from other places, such as Japan. This makes sense, as many jobs in this sector would be able to be performed on a work-from-home basis. However, the above-average performance in this segment of the local job market—and therefore, the incomes generated from those jobs—has not translated to job re-creation in consumer-oriented industries.
The job count in leisure and hospitality services remains well below the national average So incomes from jobs preserved—and recovered, going forward—in Pittsburgh have some greater potential to boost growth, but only if and when businesses are allowed to safely reopen on a broader basis as vaccinations become more widespread.
Other high-income industries in Pittsburgh remain below the national average in terms of recovering jobs. Local jobs in manufacturing, construction, and transportation and utilities also were further below year-ago levels than their national-level counterparts in November Health care and social services, as well as government jobs, were ahead of the pace of the U. Disposable income recovery, and therefore consumer confidence and willingness to spend, will return only as quickly as these higher-paying industries are able to rebuild their payrolls, and through consumer spending, generate the demand that will support the rehiring of workers in retail and leisure and hospitality services industries.
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Play Live Radio. Next Up:. Available On Air Stations. All Streams. The Confluence. Matt Rourke. Well what about plans for tomorrow? You haven't booked a hotel yet?!?! Pittsburgh has always been a city built on industry, and though the landscape of these industries has changed throughout history, Pittsburgh is still a leader.
Within Pittsburgh's top five leading industries - advanced manufacturing , healthcare , energy , financial and business services , and information technology — some of its leading companies include, Alcoa, Inc. Its location in the beautiful Western Pennsylvania region gives lots of advantages to emerging industries.
Pittsburgh is home to the U. In addition, Pittsburgh International Airport continues to impress with new nonstop flights being added every day. Other advantages include being in the Eastern Time Zone, and Pittsburgh low risk of natural disaster. For more than years, the region has benefited from a skilled workforce, excellent transportation infrastructure, and an extensive inventory of industrial sites and buildings.
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