Overall unemployment rate moved down to 7.3% with the biggest shift in Restaurants & Hotels, which gained 7,200 roles, based on the most recently available information published in April 2021.
Total employment in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD market rose by 12,371 jobs in March and the unemployment rate decreased compared to the prior month by 50 bps to 7.3%. The national unemployment rate decreased by 38 bps over the same time to 6.2%.
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD unemployment rate is 112 bps above the national rate which is a negative sign.
- Unemployment in the market is 240 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in March versus prior month by 4.3% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.8% . Key sectors include:
- Education & Healthcare: 642,300; +3,300
- Transportation & Utilities: 506,100; +2,900
- Business Services: 456,200; +4,200
- Government: 330,900; +2,300
- Financial Services: 213,700; -600
- Restaurants & Hotels: 191,800; +7,200
- Manufacturing: 172,600; no change
- Construction, Mining: 111,700; +700
- Other Jobs: 104,100; +1,100
- IT & Development: 49,700; +200
Data is based on the most recent 12 months available, through March 2021 (Data published April 2021 and reports created on April 29, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.