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Pennsylvania’s Unemployment Rate Holds Steady, Remains at 3.4% in May for Eighth Consecutive Month

by Pennsylvania Department of Labor & Industry

Photo courtesy of Resume Genius on Unsplash

On Friday, June 21, the Pennsylvania Department of Labor & Industry (L&I) released its preliminary employment situation report for May 2024.

Pennsylvania’s unemployment rate remained unchanged over the month at 3.4% in May. This was the eighth consecutive month at 3.4% The U.S. unemployment rate rose by one-tenth of a percentage point from its April rate to 4.0%.

The Commonwealth’s unemployment rate was one-tenth of a percentage point above its May 2023 level of 3.3%, while the national rate was up three-tenths of a percentage point over the year.

Pennsylvania’s civilian labor force – the estimated number of residents working or looking for work – was up 9,000 over the month to a record high of 6,605,000 due entirely to growth in resident employment, which also rose to a record high in May. Resident unemployment was unchanged from the April level.

Pennsylvania’s total nonfarm jobs were up 19,800 over the month to a record high of 6,167,700, setting the 10th consecutive record high for Pennsylvania’s jobs count. Jobs increased from April in nine of the 11 industry supersectors. The largest movement over the month was a gain of 8,700 leisure and hospitality jobs. Education & health services reached its 12th consecutive record high.

Over the year, total nonfarm jobs were up 97,100, with gains in six of the 11 supersectors. Education and health services (+61,000) had the largest volume over the year gain among supersectors.

Note: The above data are seasonally adjusted. Seasonally adjusted data provide the most valid month-to-month comparison. May 2024 data are preliminary and subject to revision.

Additional information is available on the L&I website at www.dli.pa.gov or by following us on FacebookTwitter, and LinkedIn.

Current Labor Force Statistics
Seasonally Adjusted
(in thousands)
    Change fromChange from
 MayAprilMayApril 2024May 2023
 202420242023volumepercentvolumepercent
PA       
Civilian Labor Force6,6056,5966,50690.1%991.5%
Employment6,3826,3736,29290.1%901.4%
Unemployment22322321400.0%94.2%
Rate3.43.43.30.0—-0.1—-
        
U.S.       
Civilian Labor Force167,732167,982166,823-250-0.1%9090.5%
Employment161,083161,491160,707-408-0.3%3760.2%
Unemployment6,6496,4926,1171572.4%5328.7%
Rate4.03.93.70.1—-0.3—-
        
        
Note: June 2024 labor force and nonfarm jobs statistics will be released on July 19, 2024.
Pennsylvania Nonagricultural Wage and Salary Employment
Seasonally Adjusted
(in thousands)
              Change from          Change from
              May            April            May           April 2024          May 2023
              2024            2024            2023volumepercentvolumepercent
        
Total Nonfarm Jobs6,167.76,147.96,070.619.80.3%97.11.6%
        
Goods Producing Industries847.1847.0849.70.10.0%-2.6-0.3%
  Mining & Logging23.623.523.10.10.4%0.52.2%
  Construction256.8257.2259.8-0.4-0.2%-3.0-1.2%
  Manufacturing566.7566.3566.80.40.1%-0.10.0%
        
Service Providing Industries5,320.65,300.95,220.919.70.4%99.71.9%
  Trade, Transportation & Utilities1,142.51,142.11,144.90.40.0%-2.4-0.2%
  Information93.393.594.0-0.2-0.2%-0.7-0.7%
  Financial Activities342.8342.4339.10.40.1%3.71.1%
  Professional & Business Services834.0832.9842.81.10.1%-8.8-1.0%
  Education & Health Services1,365.21,357.81,304.27.40.5%61.04.7%
  Leisure & Hospitality582.5573.8559.68.71.5%22.94.1%
  Other Services262.3261.2257.01.10.4%5.32.1%
  Government698.0697.2679.30.80.1%18.72.8%
        
        
For a more detailed breakdown of seasonally adjusted jobs data at the sector level, please contact the Center for Workforce Information & Analysis at 1-877-4WF-DATA, or visit www.paworkstats.pa.gov.
        
Note: June 2024 labor force and nonfarm jobs statistics will be released on July 19, 2024.

The post Pennsylvania’s Unemployment Rate Holds Steady, Remains at 3.4% in May for Eighth Consecutive Month appeared first on BCTV.


Source: bctv

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