September 12, 2019
Market News

Last week two reports came out on job growth that were slightly disappointing. The U.S. job market grew by 130,000 in August, less than expected but still solid for the stage of the business cycle. A report on Pittsburgh job growth showed that only 800 new jobs were added in July. That's weak but in the face of a growing wave of retirements, the positive change shows that economic momentum exists. Data on wages was solid in both reports. U.S. workers are earning 3.7% more than a year ago. That pace is double the rate of core consumer inflation. Wage earners in Pittsburgh have seen growth that is slightly higher, with the median weekly wage at $1,075 in Pittsburgh. That's $167 higher than the U.S. median wage.

The report on July inflation had good news for construction. Although the produc er price index for nonresidential construction rose at a healthy 5.6% rate year-over-year, that inflation rate is holding steady. With virtually all significantly prices changes turning negative year-over-year (especially the prices of diesel fuel, lumber, metals, and steel) the outlook is for lower construction inflation going forward.

Source: Federal Reserve Bank of St. Louis

Project News  

The request for proposals has gone out on the $20 million upgrade of Fifth Avenue Place for Highmark. Massaro, Turner, PJ Dick, Mascaro and Rycon are among the contractors invited. Pitt is conducting final CM interviews with Massaro/Gilbane, Turner and Whiting-Turner for its $200 million central plant/Human Performance Center project. And the $200 million-plus, 600,000 square foot office tower proposed by JMC Holdings has gone back out for CM proposals to Turner, PJ Dick, and Mascaro. Google is interviewing contractors Friday for a 35,000 square foot renovation at Bakery Square. CMU is taking proposals on a $3.5 million renovation of labs at the Mellon Institute. Massaro Corp. was awarded the $1.2 million WVUM Ruby Hospital radiology reading renovation. Construction started on the $3-4 million expansion at Innovative Carbide in North Huntingdon and a $3 million dispensary buildout for Solevo Wellness at the Streets at the Meadowlands in North Strabane.   See what contractors are building these projects at BuildingPittsburgh.

To keep up to date with the market check out  BuildingPittsburgh .  
People News

Mosites announced the addition of Joshua Brice to its accounting team.  Brice has been a property accountant for a local property management firm for the past 3 years and comes to Mosites with over 23 years of business development and accounting experience. 

Coming Events

PBX Fall Sporting Clays, Seven Springs, September 19

MBA Young Constructors TopGolf Outing, October 17

20th Anniversary NAIOP Pittsburgh Night at the Fights, October 17

Looking to see what's happening?

If you're planning an event for the construction or commercial real estate industries, check out the Industry Events Calendar at the Tall Timber Group website. (

Double-check what else is going on in the industry on the dates you have in mind. Or check out what events you might want to attend. Interested in posting events? Email us for instructions.  
Join Our Mailing List




Tall Timber Group is the publisher of BreakingGround and DEVELOPINGPittsburgh magazines and the Pittsburgh Homebuilding Report, and is a consultant for contractors and designers serving the construction and real estate market. For more information about our services, contact Jeff Burd or call:

Tall Timber Group
506B McKnight Park Dr.
Pittsburgh, Pennsylvania 15237


Join Our Mailing List