HARRISBURG, PA — In a sign of continued economic resilience, Pennsylvania’s unemployment rate remained stable at 3.4% for the sixth consecutive month, according to the latest preliminary employment situation report for March 2024 released by the Department of Labor & Industry (L&I). This steadiness in unemployment figures comes even as the national rate saw a slight decrease to 3.8%, highlighting a robust labor market in the Commonwealth.
The report indicates a noteworthy trend of job growth within the state, with Pennsylvania’s total nonfarm jobs increasing by 15,300 over the month to reach an unprecedented high of 6,148,900. This marks the eighth consecutive month that the state’s job count has set a new record, reflecting a vigorous expansion across multiple sectors of the economy.
Significant job gains were observed in eight of the eleven industry supersectors, with leisure and hospitality leading the way. Notably, the financial activities and education & health services sectors reached record high employment levels in March, showcasing the diverse strength of Pennsylvania’s economy. Over the past year, the state has seen an increase of 78,200 jobs, with education & health services experiencing the largest volume gain among supersectors, adding 55,700 positions.
This positive employment trajectory is further supported by an increase in the state’s civilian labor force, which grew by 20,000 over the month, primarily driven by growth in resident employment. This uptick suggests that more Pennsylvanians are entering the workforce, either by finding employment or actively seeking work, a healthy indicator of labor market dynamism.
The stability of Pennsylvania’s unemployment rate, combined with record-high job growth and an expanding labor force, paints a promising picture of the state’s economic health. It also reflects the effectiveness of policies and initiatives aimed at stimulating job creation and supporting workforce development.
As Pennsylvania continues to navigate the challenges of a post-pandemic economy, these latest employment figures offer encouraging signs of recovery and growth. The sustained job expansion across various sectors not only provides opportunities for residents but also contributes to the overall economic competitiveness of the Commonwealth.
It’s important to note that these figures are seasonally adjusted to account for the usual fluctuations in employment patterns, making month-to-month comparisons more valid. March 2024 data are preliminary and subject to revision, but the current report underscores a period of notable strength and resilience in Pennsylvania’s labor market.
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