Overall unemployment rate moved up to 4.5% with the biggest shift in Business Services, which gained 2,900 roles, based on the most recently available information published in September 2022.
Total employment in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD market rose by 2,499 jobs in August and the unemployment rate increased compared to the prior month by 10 bps to 4.5%. The national unemployment rate stayed flat over the same time period at 3.8%.
- 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 210 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in August versus prior month by 4.6% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs stayed flat. Key sectors include:
- Education & Healthcare: 653,700; +800
- Transportation & Utilities: 547,100; +500
- Business Services: 504,100; +2,900
- Government: 309,000; no change
- Restaurants & Hotels: 270,500; -2,700
- Financial Services: 221,000; -600
- Manufacturing: 180,100; -600
- Construction, Mining: 123,500; -1,000
- Other Jobs: 121,500; +300
- IT & Development: 50,700; +200
Data is based on the most recent 12 months available, through August 2022 (Data published September 2022 and reports created on September 28, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.