To arrange interviews with KRC economists:
John Neurohr, Jr. jneurohr@clearpointpa.com; 717-364-6452
KRC Jobs Statement September 20, 2024
KRC blog on jobs online at URL HERE
More Good News on PA Jobs in August, Keystone Research Finds
Unemployment Still at 3.4%, Continuing Its Record-Low Run
Harrisburg, PA: The Pennsylvania Department of Labor & Industry (L&I) released its preliminary jobs report for August 2024 this morning. In response, Keystone Research Center (KRC) economist and executive director Stephen Herzenberg released the following statement:
“The Pennsylvania job market in August maintained its forward momentum and our unemployment rate stayed at 3.4% for the 11th month in a row.
- The number of nonfarm jobs rose to a record 6.2 million, a jump of 8,000 jobs over July and the 13th consecutive monthly increase.
- Pennsylvania has gained more than 100,000 jobs (102,600) in the past 12 months.
- Our unemployment rate is now eight tenths of a percentage point below the national 4.2% rate.
The August numbers sustain the economic realities documented in KRC’s ‘State of Working Pennsylvania 2024’ report—Pennsylvania’s economy is the most favorable it’s been for workers in half a century. We have low unemployment, more job openings than unemployed workers, inflation down to 2.5%, and wages rising faster than inflation. The Federal Reserve half point interest rate cut and federal investments in climate and infrastructure should sustain a healthy economy for workers. After decades of growth that benefited only the very rich, Pennsylvania working families should finally begin to feel like they are sharing in prosperity.”