The Pennsylvania Department of Labor & Industry released its preliminary employment situation report for October 2022.
Pennsylvania’s unemployment rate was down one-tenth of a percentage point over the month to 4.0 percent in October, setting a new record low. The U.S. unemployment rate was up two-tenths of a percentage point over the month to 3.7 percent. The commonwealth’s unemployment rate was 1.6 percentage points below its October 2021 level and the national rate was down 0.9 percentage points over the year.
“With Pennsylvania’s unemployment rate dipping to 4.0 percent 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,” L&I 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 that meet the needs of Pennsylvania employers and attracting talented workers to the commonwealth.”
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 8,000 (to 6,193,000) while resident unemployment declined 6,000 (to 258,000).
Pennsylvania’s total nonfarm jobs were up 10,400 over the month to 6,009,500 in October, the first time to surpass 6 million jobs since the recovery began. Jobs increased from September in 8 of the 11 industry supersectors. The largest gain was in leisure & hospitality (+3,800). Trade, transportation & utilities rose to a record high level. Over the year, total nonfarm jobs were up 195,200 with gains in 10 of the 11 supersectors.
From April 2020 to October 2022, Pennsylvania has recovered approximately 92% of jobs lost in the first two months of the pandemic. Three supersectors – trade, transportation & utilities; information; and professional & business services – were above their pre-pandemic job levels in October 2022.