Pennsylvania’s Job Market on the Upswing: Record Low Unemployment Rate and Increasing Wages Boost Buying Power for Workers

Pennsylvania’s Economy Thrives as April Unemployment Remains at Historic Low of 3.4%

Pennsylvania is experiencing a positive trend in the job market, with a record low jobless rate of 3.4% in April, which is better than the national jobless rate of 3.9%. This has been ongoing for months, with the jobless rate staying between 3.2% and 3.4% over the past year. According to Maisum Murtaza, a research associate at the Keystone Research Center, this low unemployment rate gives workers more leverage in the job market, leading to increased buying power.

Furthermore, real wages have started to increase over the last 12 months as inflation has come under control. Pennsylvania saw an increase in nonfarm jobs, reaching a record high of over 6 million jobs, which is an increase of 2,600 jobs from the previous month. The state added 81,000 jobs to overall employment in the last year, with the education and health services industry leading the way.

Murtaza stated that the education and health services industry saw the largest percentage gains in employment over the last 12 months, with over 58,000 jobs added. The leisure and hospitality industry, which was hit hardest during COVID-19 pandemic is still recovering and Government employment also saw significant growth in employment over the last year.

Pennsylvania aligns with a national trend of historically low unemployment rates for Black workers despite a recent slight increase indicating an overall positive trend with any fluctuations likely to be temporary in nature.

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