Overall unemployment rate moved down to 3.4% with the biggest shift in Government, which gained 17,700 roles, based on the most recently available information published in November 2022.
Total employment in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD market rose by 22,022 jobs in September and the unemployment rate decreased compared to the prior month by 110 bps to 3.4%. The national unemployment rate decreased by 47 bps over the same time to 3.3%.
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD unemployment rate is 8 bps above the national rate which is a negative sign.
- Unemployment in the market is 220 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in September versus prior month by 5.1% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.3% . Key sectors include:
- Education & Healthcare: 668,100; +12,200
- Transportation & Utilities: 546,100; -400
- Business Services: 497,000; -4,000
- Government: 325,200; +17,700
- Restaurants & Hotels: 259,500; -13,500
- Financial Services: 219,900; -1,100
- Manufacturing: 180,300; +200
- Construction, Mining: 124,200; -300
- Other Jobs: 118,700; -1,900
- IT & Development: 50,100; -300
Data is based on the most recent 12 months available, through September 2022 (Data published November 2022 and reports created on November 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.