Overall unemployment rate moved down to 5.1% with the biggest shift in Transportation & Utilities, which gained 9,500 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 30,188 jobs in October and the unemployment rate decreased compared to the prior month by 60 bps to 5.1%. The national unemployment rate decreased by 30 bps over the same time to 4.3%.
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD unemployment rate is 84 bps above the national rate which is a negative sign.
- Unemployment in the market is 170 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October 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 1.1% . Key sectors include:
- Education & Healthcare: 655,100; +9,000
- Transportation & Utilities: 528,300; +9,500
- Business Services: 467,400; +6,300
- Government: 331,000; +3,400
- Restaurants & Hotels: 224,000; -600
- Financial Services: 216,600; -100
- Manufacturing: 176,800; +800
- Construction, Mining: 123,900; +1,200
- Other Jobs: 107,000; +1,400
- IT & Development: 52,400; -600
Data is based on the most recent 12 months available, through October 2021 (Data published December 2021 and reports created on December 2, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.