Overall unemployment rate moved up to 4.1% with the biggest shift in Transportation & Utilities, which lost 19,300 roles, based on the most recently available information published in March 2023.
Total employment in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD market rose by 11,645 jobs in January and the unemployment rate increased compared to the prior month by 70 bps to 4.1%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD unemployment rate is 24 bps above the national rate which is a negative sign.
- Unemployment in the market is 120 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 2.6% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.9%. Key sectors include:
- Education & Healthcare: 683,200; -12,200
- Transportation & Utilities: 553,900; -19,300
- Business Services: 493,600; -9,300
- Government: 333,200; -6,300
- Restaurants & Hotels: 252,900; -5,100
- Financial Services: 227,600; -2,600
- Manufacturing: 180,700; -900
- Construction, Mining: 121,700; -1,500
- Other Jobs: 121,400; -1,600
- IT & Development: 55,000; +300
Data is based on the most recent 12 months available, through January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.