On August 27, 2024, the Keystone Research Center released its annual “State of Working Pennsylvania” report. A PDF Copy is available here
Key Findings:
- Pennsylvania’s economy is experiencing steady and substantial growth, with output now significantly exceeding pre-pandemic levels, indicating a robust recovery.
- The state’s job growth has been exceptionally strong, frequently outpacing national rates. This is particularly noteworthy given Pennsylvania’s slower working-age population growth, which typically acts as a constraint on job creation.
- Unemployment rates have plummeted to a remarkable 50-year low. Even more encouraging is the notable improvement in employment figures for Black and Hispanic workers, signaling progress in reducing racial disparities in the job market.
- Wage growth has outpaced inflation across most demographic groups and occupations, leading to real increases in purchasing power for many Pennsylvania workers.
- Union membership is experiencing a resurgence, particularly in the private service sector. This trend suggests a growing desire among workers for collective bargaining and improved working conditions.
- The state’s manufacturing sector has shown signs of revitalization, with increased output and job creation in advanced manufacturing industries.
- Despite overall positive trends, income inequality remains a concern, with the benefits of economic growth not being evenly distributed across all segments of the population.
The Report
The Press Release
The Recorded Press Conference
The Presentation
Media Coverage
Philadelphia Inquirer: Five ways Philly’s economy could be shaped by a Harris or Trump presidency
Public News Service: New PA labor report reveals economic progress, challenges
The Keystone: Advocates call for increasing the minimum wage as PA worker salaries lag neighbors
The Center Square: Report says Pennsylvania’s economy ‘strong’ for working families