Overall unemployment rate moved down to 4.1% with the biggest shift in Restaurants & Hotels, which gained 8,200 roles, based on the most recently available information published in June 2022.
Total employment in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD market declined by 4,400 jobs in April and the unemployment rate decreased compared to the prior month by 30 bps to 4.1%. The national unemployment rate decreased by 42 bps over the same time to 3.3%.
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD unemployment rate is 76 bps above the national rate which is a negative sign.
- Unemployment in the market is 250 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in April versus prior month by 3.7% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.8% . Key sectors include:
- Education & Healthcare: 660,800; +3,800
- Transportation & Utilities: 536,600; +100
- Business Services: 492,900; +7,600
- Government: 332,400; -300
- Restaurants & Hotels: 243,900; +8,200
- Financial Services: 218,200; -100
- Manufacturing: 177,700; +700
- Construction, Mining: 121,000; +3,600
- Other Jobs: 116,200; -300
- IT & Development: 49,200; +500
Data is based on the most recent 12 months available, through April 2022 (Data published June 2022 and reports created on June 1, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.