Pennsylvania’s Economy Continued Steady Growth in April, Keystone Research Finds Unemployment Remains at 3.4%, Continuing Its Record-Low Run
The Pennsylvania Department of Labor & Industry (L&I) released its preliminary jobs report for April 2024 this morning. In response, Keystone Research Center (KRC) released the following statement:
“The job market in April remained the strongest since the 1960s from the perspective of workers,’ said KRC executive director and economist Stephen Herzenberg. ‘The unemployment rate continued at 3.4% and has now been between 3.2% and 3.4% for 12 months in a row.’
- The number of nonfarm jobs rose to a record high 6,149,500, an increase of 2,600 jobs over March and the ninth consecutive monthly increase.
- Pennsylvania has gained 81,000 jobs over the last 12 months.
- The Pennsylvania unemployment rate is now half a percentage point below the national 3.9% rate in April.
‘Persistent low unemployment gives workers more leverage in the job market individually and collectively’ said economic analyst Maisum Murtaza, ‘and that means more buying power in workers’ pay packets each month.’
- Two days ago, the Economic Policy Institute documented that U.S. workers have now seen average real wage increases for 12 consecutive months.
- At the end of April, the Bureau of Labor Statistics documented that unionized workers in the United States enjoyed a 6.3% increase in (nominal) wages in the 12-month period ending March 2024, compared to 4.1% for non union workers.”
