Overall unemployment rate moved down to 4.2% with the biggest shift in Transportation & Utilities, which gained 11,600 roles, based on the most recently available information published in February 2022.
Total employment in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD market declined by 6,329 jobs in December and the unemployment rate decreased compared to the prior month by 40 bps to 4.2%. The national unemployment rate decreased by 20 bps over the same time to 3.7%.
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD unemployment rate is 51 bps above the national rate which is a negative sign.
- Unemployment in the market is 270 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in December versus prior month by 2.4% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.3% . Key sectors include:
- Education & Healthcare: 656,200; -2,000
- Transportation & Utilities: 555,000; +11,600
- Business Services: 470,000; -200
- Government: 333,400; +100
- Restaurants & Hotels: 225,500; +100
- Financial Services: 218,300; +700
- Manufacturing: 178,300; +500
- Construction, Mining: 119,300; -2,800
- Other Jobs: 108,300; +800
- IT & Development: 53,500; -100
Data is based on the most recent 12 months available, through December 2021 (Data published February 2022 and reports created on February 4, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.