Overall unemployment rate moved down to 4.6% with the biggest shift in Transportation & Utilities, which gained 14,400 roles, based on the most recently available information published in December 2021.
Total employment in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD market rose by 5,746 jobs in November and the unemployment rate decreased compared to the prior month by 50 bps to 4.6%. The national unemployment rate decreased by 37 bps over the same time to 3.9%.
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD unemployment rate is 71 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 November versus prior month by 3% 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: 656,900; +1,900
- Transportation & Utilities: 543,600; +14,400
- Business Services: 469,900; no change
- Government: 332,900; +2,400
- Restaurants & Hotels: 224,600; -400
- Financial Services: 217,700; +800
- Manufacturing: 177,900; +1,000
- Construction, Mining: 123,200; -100
- Other Jobs: 107,600; +900
- IT & Development: 53,700; +700
Data is based on the most recent 12 months available, through November 2021 (Data published December 2021 and reports created on January 6, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.