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Pennsylvania Unemployment Stats and News
Pennsylvania Unemployment Stats
Current and Historical Pennsylvania Stats Analysis
In the past year, Pennsylvania’s unemployment rate has continued to rise every month since January from 4.6 percent to 5.8 percent in August 2016. Unemployment is now 0.8 percent higher than the national average, but still a huge decrease from the 11.9 percent from July 2012. The uncertain situation is that more jobs are being added to the economy but are often sitting unfilled because applicants lack the skills to be successful in the role.
The economy in Pennsylvania is a mixture of being extremely rural and having a large urban manufacturing presence. Also, Pennsylvania is the home to fifty Fortune 500 companies and is considered to be at the center of healthcare innovation. This diverse mix of industries that call for specific skill sets often leads to the state having an abundance of jobs with a high unemployment rate because there are not enough qualified individuals that match the needs.
Why Unemployment Stats Are Valuable
Pennsylvania Unemployment Stats Resources list
More information on Pennsylvania’s Unemployment stats can be found at the following location:
In addition, Pennsylvania Department of Community & Economic Development provides excellent resources and data elements on the following topics on the Business Climate section of their website:
- Skilled Workforce & Training
- Logistics & Infrastructure
- Pennsylvania Ports
- Colleges & Universities
- Universities & Industries
- Key Industries
- Facts and Figures for International Business
Pennsylvania Unemployment News
Pennsylvania Unemployment in the News
Experts believe the increase in unemployment is a result of a larger number of individuals deciding to reenter the job market because they have relocated to the state or recently graduated. In fact, jobs are added to the market at a steady rate of 1.7 percent annually, which is not enough to keep up with the number of individuals entering the workforce. While unemployment is continuing to rise, the average salary is also growing. Larger salaries mean those who can find work are getting paid more than they were the year before, which is a sign of economic stability.
Healthcare is one of the largest industries in Pennsylvania and has increased jobs by 11 percent since 2007, despite the recent economic recession. In fact, Philadelphia is recognized as one of the largest cities for healthcare jobs and is a world-renown industry leading hub for biomedical, pharmaceutical, and healthcare companies such as Johnson & Johnson, AmerisourceBergen, and Universal Health Services.
Over the last decade, Pennsylvania has pursued new economic opportunities to spur job growth. One of the most successful ventures was the legalization of casino gambling in 2004. This elevated the leisure and entertainment industry and added $200 million in tax revenue to the state.
To offer additional support to small business owners, the Pennsylvania Department of Community & Economic Development created the Small Business Champion Network to provide additional support and guidance to small business owners. Resources available include regularly scheduled webinars to educate in financing a business, training in utilizing LinkedIn, and identifying new market opportunities. An Entrepreneur Guide was also created with materials for those just starting a new business venture.
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