Apparently, it’s not all doom-and-gloom on the employment front.
The Pennsylvania Department of Labor & Industry released its preliminary employment situation report for August 2022, showing an unemployment rate in the state at 4.2 percent – the lowest since June 2000.
The Keystone State’s number fell one-tenth of one percent in the month, while the U.S. unemployment rate jumped 0.2% to 3.7 percent.
“With Pennsylvania’s unemployment rate dipping to 4.2 percent – its lowest point since June 2000 – this moment is an opportunity to reflect on the value of labor and celebrate the fact that Pennsylvania workers have access to a competitive job market right now. We must also remember that records are meant to be broken and trends change over time,” Labor & Industry Secretary Jennifer Berrier said. “As we tackle economic challenges of today and tomorrow, we must remain committed to the protection of that most valuable economic asset – people.”
Pennsylvania’s civilian labor force – the estimated number of residents working or looking for work – was up 2,000 over the month. The employment count rose 4,000 (to 6,175,000) while resident unemployment declined 2,000 (to 273,000).