Smart Talk: Central PA economy shows slower growth

What to look for on Smart Talk Tuesday, August 19, 2014:

Even with an unemployment rate close to the national average, Pennsylvania is about a year and a half behind the rest of the nation when it comes to jobs.

How can that be?

PNC Financial Services economist Kurt Rankin says the statistics reflect a growing number of unemployed workers who have stopped looking for a job until the economy or job opportunities improve.

Jobs have been added in Pennsylvania but not at the rate as elsewhere across the country.

Rankin says the lack of job security and stability has caused consumers to spend less. With consumers not spending as much as expected during a recovery, employers have been slow to hire new workers. Stagnant wages also contribute to a less than robust economy.

Rankin appears on Tuesday’s Smart Talk to discuss Central Pennsylvania’s, Pennsylvania’s and the nation’s economy.

The news isn’t all bad. Business Facilities Magazine rated the Harrisburg region first in the nation in the rate of growth of exports since the end of the recession.

The warehouse and logistics industries appear to be growing in the region but is it enough to offset job losses in the public sector and do the new jobs pay as much as the jobs that were lost?

We’ll asked Rankin those and other economic related questions.