Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

THE WEEK THAT WAS [Derived Headline]

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

THE WEEK THAT WAS [Derived Headline]

Article excerpt

BACK TO WORK

Not only do the latest figures from the Pennsylvania Department of Labor and Industry show the state's unemployment rate dropped slightly from 7.5 percent in March to 7.4 percent in April, but that drop happened even as more workers were coming back into the labor force. Sometimes, unemployment rates "drop" because people stop looking for work, and no longer count toward the total number of unemployed. But in Pennsylvania, based on a recent population survey, more people had jobs in April than in March.

That labor force news is being driven, in part, out of the Pittsburgh metropolitan area, where labor supply grew in March by an estimated 9,100 people, to 1.246 million. That means more people are rejoining the labor force after dropping out of it, and it also means the Pittsburgh region is capturing migrants from out of the area.

WILL HE OR WON'T HE?

Carl Icahn, the Wall Street investor known for his aggressive proxy fights and hostile takeover strategies, still hasn't shown his hand on whether he'll be buying a big stake on Chesapeake Energy Corp., the natural gas company that is active in the Marcellus Shale region.

During a conference call last week, Chesapeake's embattled CEO, Aubrey McClendon, told shareholders that "If he comes in, I'm pretty confident he'll make a lot of money," since news that Ichan is about to invest in a company often gooses stock prices. On May 11, Chesapeake lost about $1 billion in stock value, following the revelation that Mr. McClendon raised cash by taking out personal loans against company wells and properties. After that news was reported, Mr. McClendon was jettisoned as Chesapeake board chairman, but he remains CEO.

IN CASE YOU MISSED IT ...

... visit post-gazette.com/ business/ to read Steve Twedt's story about the staggering amount of executive turnover at the embattled - - there's that word again -- West Penn Allegheny Health System. …

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