Pennsylvania is experiencing a record low unemployment rate of 3.4% in April, compared to the national rate of 3.9%. The state has seen consistent positive trends over the past year, with the unemployment rate hovering between 3.2% and 3.4%. This is good news for Pennsylvanians looking for job opportunities, as the job market is recovering from the impact of COVID-19.
Maisum Murtaza, a research associate at the Keystone Research Center, pointed out that real wages have started to rise in the past 12 months, attributed to the low unemployment rates and controlled inflation in the state. Pennsylvania saw an increase of over 6 million nonfarm jobs in April and a ninth consecutive monthly increase. The state added 81,000 jobs to its overall employment over the last year, with education and health services leading the way.
Education and health services gained over 58,000 jobs in Pennsylvania over the past 12 months. While government employment also saw significant growth and ranked third in terms of percentage increase in employment over the last year, it was not enough to offset losses in leisure and hospitality industry which was hit hardest during COVID years but is still recovering slowly.
Pennsylvania reflects a national trend of historically low unemployment rates for Black workers, with only a minor recent uptick. This suggests an overall positive trend, with fluctuations likely to be temporary adjustments in the data. With low unemployment rates and rising wages, Pennsylvanians have more power in labor market which can boost their buying power as well
