Overall unemployment rate moved up to 4.4% with the biggest shift in Restaurants & Hotels, which gained 12,400 roles, based on the most recently available information published in August 2022.
Total employment in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD market declined by 17,752 jobs in June and the unemployment rate increased compared to the prior month by 40 bps to 4.4%. The national unemployment rate increased by 46 bps over the same time to 3.8%.
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD unemployment rate is 56 bps above the national rate which is a negative sign.
- Unemployment in the market is 270 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in June versus prior month by 3.9% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.6% . Key sectors include:
- Education & Healthcare: 653,200; -6,200
- Transportation & Utilities: 546,000; +6,300
- Business Services: 498,000; +5,100
- Government: 328,200; -3,200
- Restaurants & Hotels: 268,800; +12,400
- Financial Services: 220,900; +2,000
- Manufacturing: 178,700; -200
- Construction, Mining: 124,000; +1,900
- Other Jobs: 118,900; +700
- IT & Development: 50,100; +400
Data is based on the most recent 12 months available, through June 2022 (Data published August 2022 and reports created on August 3, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.