Pennsylvania’s Department of Labor & Industry has recently released its preliminary employment situation report for July 2024. The report reveals a stable unemployment rate and continued job growth across various industry sectors, reflecting the state’s robust and resilient job market.
In July, Pennsylvania maintained its unemployment rate at 3.4%, remaining steady for the tenth consecutive month. This rate is significantly lower than the national average, which increased to 4.3% from June. The state’s civilian labor force witnessed a slight decline, with 1,000 fewer individuals actively seeking work or being employed, bringing the total to 6,602,000.
On a positive note, Pennsylvania reached a record high of 6,191,000 nonfarm jobs in July, indicating continuous job growth and economic development. This figure represents an increase of 12,200 jobs from June and marks the twelfth consecutive month of record highs in job count. The government sector led the gains with an addition of 7,700 jobs, followed by the education and health services sector, which achieved a record high for the fourteenth consecutive month.
Over the past year, Pennsylvania’s job market has expanded by 105,000 nonfarm jobs, with the education and health services sector experiencing the greatest increase of 57,100 jobs. This growth highlights the sector’s crucial role in the state’s economic development.
These figures showcase Pennsylvania’s resilience and indicate a robust economic environment. The state’s continuous job growth and stable unemployment rate are a testament to its dedication towards fostering a dynamic and inclusive economy.
While the data presented are seasonally adjusted, providing accurate month-to-month comparisons, it is important to note that the July 2024 data is preliminary and subject to revisions.
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FAQ:
1. What was Pennsylvania’s unemployment rate in July 2024?
– Pennsylvania’s unemployment rate in July 2024 was 3.4%.
2. How does Pennsylvania’s unemployment rate compare to the national average?
– Pennsylvania’s unemployment rate of 3.4% is significantly lower than the national average, which increased to 4.3% from June.
3. Did Pennsylvania experience job growth in July 2024?
– Yes, Pennsylvania experienced job growth in July 2024. The state reached a record high of 6,191,000 nonfarm jobs, indicating continuous growth and development.
4. Which sectors led the job gains in Pennsylvania?
– The government sector led the job gains in Pennsylvania with an addition of 7,700 jobs. The education and health services sector also achieved a record high for the fourteenth consecutive month.
5. How many nonfarm jobs were added in Pennsylvania over the past year?
– Over the past year, Pennsylvania added 105,000 nonfarm jobs, with the education and health services sector experiencing the greatest increase of 57,100 jobs.
Definitions:
– Unemployment rate: A measure of the percentage of the labor force that is unemployed and actively seeking employment.
– Civilian labor force: The total number of people who are either employed or actively seeking employment.
– Nonfarm jobs: Jobs that are not related to agricultural or farming activities.
– Economic development: The process by which a region or country improves its overall economic well-being and quality of life.
Related Links:
– Link to Pennsylvania Economic Development
– Link to Pennsylvania Department of Labor & Industry