The unemployment rate in Pennsylvania has hit a new record low, according to the Pennsylvania Department of Labor and Industry.
The unemployment rate in the state was down one-tenth of a percentage point over September to 4% in October.
The state’s unemployment rate was 1.6 percentage points lower than its October 2021 level. The U.S. unemployment rate was up two-tenths of a percentage point in October to 3.7%.
The unemployment rate in Bucks County for September, the last month where the data is available, showed a drop of one point month-over-month to 3%, according to the U.S. Bureau of Labor Statistics.
The state’s civilian labor force, which is the estimated number of residents working or looking for work, was up 2,000 over September. The employment count rose 8,000 to 6,193,000 while resident unemployment declined 6,000 to 258,000.
The largest employment gain was in the leisure and hospitality sector, while the trade, transportation, and utilities sector increased to a record high level, according to state data.
Between April 2020 to October 2022, Pennsylvania recovered approximately 92% of jobs lost in the first two months of the pandemic.
“With Pennsylvania’s unemployment rate dipping to 4% for the first time, this is a historic opportunity to reflect on the critical value of each and every worker in the commonwealth. Individually, we work to follow our passions and support our families. Collectively, Pennsylvania workers are the engine of a world-class economy,” Pennsylvania Department of Labor and Industry Secretary Jennifer Berrier said. “A low unemployment rate is an excellent economic indicator, but our work is far from over. We must remain vigilant in our efforts to invest in growing our labor force, developing skilled workers who meet the needs of Pennsylvania employers and attracting talented workers to the commonwealth.”
See also:
PA Unemployment Rate Drops, Matching Lowest Rate
About $4.9B in Unemployment Fraud Unrecovered in Pennsylvania
Pa.’s Unemployment Rate Fell to 4.5 Percent in June
Pennsylvania's Economic Recovery: Some Progress, But Poor Compared to Other States
