State unemployment rate drops to 4.3 percent in July - Pennsylvania Business Report

2022-09-02 19:33:04 By : Mr. Richard Ho

Home » News » State unemployment rate drops to 4.3 percent in July

The state’s unemployment rate dropped two-tenths of a percentage point in July to 4.3 percent, according to a Pennsylvania Department of Labor & Industry (L&I) report.

Nationally, the unemployment rate was 3.5 percent.

Compared to a year ago, the state’s unemployment rate dropped 2.1 percent and the national rate fell 1.9 percent.

Pennsylvania recovered approximately 90 percent of the jobs lost during the first two months of the pandemic from April 2020 through July 2022.

“The jobs report for July is a testament to Pennsylvania workers’ ability to bounce back from a crisis, provide for their families and contribute to a strong economy that benefits all of us,” L&I Secretary Jennifer Berrier said. “As the unemployment rate continues to steadily decline, job growth continues across the board in industries ranging from professional and business services to trade and transportation. This month marks the first time since June 2019 that we have had 4.3 percent unemployment.”

A total of 6.2 million residents were employed, while the number of unemployed residents was 275,000.

Total nonfarm jobs reached 5.98 million, up 31,000 with the largest volume gain in professional and business services and up 203,800 for the year

Unemployment data is adjusted seasonally and is subject to revision.

Have an idea for our new podcast?

Check your inbox or spam folder to confirm your subscription.