FOR IMMEDIATE RELEASE:
July 19, 2024
Contact: John Neurohr, jneurohr@clearpointpa.com, 717-364-6452
Pennsylvania Sees Record High Jobs in June, Keystone Research Finds
Unemployment Remains at 3.4%
Harrisburg, PA – The Pennsylvania Department of Labor & Industry (L&I) released its preliminary jobs report for June 2024 this morning. In response, Keystone Research Center (KRC) released the following statement:
“Pennsylvania added 15,600 jobs in June, the 11th monthly increase in a row,” said KRC Senior Research Analyst Claire Kovach. “Together with good news on inflation for June, today’s job report continued a long string of good news on the economy.”
- The number of non-farm jobs rose to a record high 6,183,900, an increase of 15,600 jobs over May.
- Pennsylvania’s unemployment rate of 3.4% remained well below the national rate, which was 4.1% in June.
- U.S. prices fell last month and overall inflation in the last 12 months declined to 3%.
“Over the past 12 months, U.S. hourly wages rose by 3.9%—that’s faster than prices rose. Workers saw an increase in their buying power,” said economic analyst Maisum Murtaza, “Except for the dip towards the end of the pandemic, wages for Pennsylvania workers have now been rising since 2014.”
“This is the longest period of steady wage growth and the strongest job market for workers since the 1960s and 1970s,” commented KRC Executive Director Stephen Herzenberg.
To arrange interviews with KRC economists contact John Neurohr: jneurohr@clearpointpa.com;
717-364-6452