HARRISBURG – The Pennsylvania Department of Labor & Industry (L&I) released its preliminary jobs report for May 2024 this morning. In response, Keystone Research Center released the following statement:
“Pennsylvania added 19,800 jobs in May, and the labor force and resident employment both hit record highs last month,” said KRC Senior Research Analyst Claire Kovach. “A consistently low unemployment rate coupled with a record high labor force size sends a clear signal—our economic comeback continues.”
- The number of nonfarm jobs rose to a record high 6,167,700, an increase of 19,800 jobs over April, and the 10th consecutive record high.
- Pennsylvania has gained 97,100 jobs over the last 12 months, led by gains in Education and Health Services.
- Pennsylvania’s low unemployment rate continues at 3.4% for the 8th consecutive month—lower than the national unemployment of 4.0%.
- The Leisure & Hospitality industry is up 8,700 jobs in Pennsylvania since last month.
“Continued low unemployment and reaching full employment is crucial for Pennsylvania workers and especially groups that have been historically disadvantaged,” said economic analyst Maisum Murtaza. “That means a more worker-friendly labor market with more job openings than unemployed individuals.” The Economic Policy Institute observed the impacts of a historic low unemployment rate run over the last 30 months with the labor market approaching full employment.
To arrange interviews with KRC economists contact John Neurohr: jneurohr@clearpointpa.com; 717-364-6452
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The Keystone Research Center is a nonpartisan economic think tank dedicated to conducting research and advancing policies that promote shared prosperity and economic opportunity for all Pennsylvanians.