Overall unemployment rate moved down to 4.4% with the biggest shift in Business Services, which gained 6,200 roles, based on the most recently available information published in April 2022.
Total employment in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD market rose by 29,857 jobs in March and the unemployment rate decreased compared to the prior month by 30 bps to 4.4%. The national unemployment rate decreased by 39 bps over the same time to 3.8%.
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD unemployment rate is 65 bps above the national rate which is a negative sign.
- Unemployment in the market is 260 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in March versus prior month by 3% 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: 656,700; +1,100
- Transportation & Utilities: 534,500; -1,300
- Business Services: 486,400; +6,200
- Government: 333,300; +1,900
- Restaurants & Hotels: 235,100; +4,600
- Financial Services: 218,400; +900
- Manufacturing: 177,100; +400
- Construction, Mining: 117,500; +2,400
- Other Jobs: 116,500; +800
- IT & Development: 48,700; +200
Data is based on the most recent 12 months available, through March 2022 (Data published April 2022 and reports created on April 27, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.