Overall unemployment rate moved down to 6.1% with the biggest shift in Restaurants & Hotels, which gained 15,800 roles, based on the most recently available information published in June 2021.
Total employment in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD market rose by 9,861 jobs in May and the unemployment rate decreased compared to the prior month by 40 bps to 6.1%. The national unemployment rate decreased by 25 bps over the same time to 5.5%.
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD unemployment rate is 60 bps above the national rate which is a negative sign.
- Unemployment in the market is 810 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in May versus prior month by 1.7% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.7% . Key sectors include:
- Education & Healthcare: 640,600; -2,700
- Transportation & Utilities: 510,100; +2,000
- Business Services: 461,200; +3,000
- Government: 329,000; -1,400
- Restaurants & Hotels: 218,900; +15,800
- Financial Services: 216,400; +1,200
- Manufacturing: 172,800; -500
- Construction, Mining: 117,900; +3,000
- Other Jobs: 105,300; +300
- IT & Development: 50,700; +100
Data is based on the most recent 12 months available, through May 2021 (Data published June 2021 and reports created on June 30, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.