Overall unemployment rate stayed flat at 3.4% with the biggest shift in Education & Healthcare, which gained 12,400 roles, based on the most recently available information published in December 2022.
Total employment in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD market rose by 20,774 jobs in October and the unemployment rate stayed flat. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD unemployment rate is 0 bps below the national rate which is a positive sign.
- Unemployment in the market is 190 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October versus prior month by 5.5% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.8% . Key sectors include:
- Education & Healthcare: 681,100; +12,400
- Transportation & Utilities: 553,300; +6,500
- Business Services: 499,900; +3,200
- Government: 330,700; +4,500
- Restaurants & Hotels: 255,800; -3,500
- Financial Services: 221,400; +1,200
- Manufacturing: 180,500; +500
- Construction, Mining: 122,700; -1,700
- Other Jobs: 119,800; +700
- IT & Development: 50,600; +300
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.