Overall unemployment rate moved down to 3.1% with the biggest shift in Restaurants & Hotels, which gained 11,000 roles, based on the most recently available information published in June 2023.
Total employment in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD market rose by 4,952 jobs in April and the unemployment rate decreased compared to the prior month by 50 bps to 3.1%. The national unemployment rate decreased by 53 bps over the same time to 3.1%.
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD unemployment rate is 0 bps above the national rate which is a negative sign.
- Unemployment in the market is 70 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 1.7% and are equal compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.9% . Key sectors include:
- Education & Healthcare: 708,400; +3,700
- Transportation & Utilities: 547,700; -100
- Business Services: 506,800; +8,100
- Government: 339,200; -300
- Restaurants & Hotels: 273,400; +11,000
- Financial Services: 228,700; no change
- Manufacturing: 181,800; +800
- Construction, Mining: 125,200; +4,200
- Other Jobs: 122,500; +100
- IT & Development: 54,600; no change
Data is based on the most recent 12 months available, through April 2023 (Data published June 2023 and reports created on June 8,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.