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Saturday, November 2, 2024

Pennsylvania's 6.6% unemployment rate higher than national average

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Leisure and hospitality had the largest 12-month gain in the commonwealth, adding back 16,200 jobs in July. | Adobe Stock

Leisure and hospitality had the largest 12-month gain in the commonwealth, adding back 16,200 jobs in July. | Adobe Stock

The latest figures say that Pennsylvania is experiencing a high unemployment rate as the commonwealth's economy recovers from the COVID-19 pandemic.

Pennsylvania currently has an unemployment rate of 6.6%, which is higher than the national average of 5.4%, according to a news release from the commonwealth's website.

Pennsylvania's unemployment rate was down three-tenths of a percentage point over the month to 6.6% in July, according to commonwealth data.

The commonwealth's unemployment rate was 6.4 percentage points below its July 2020 level. The national rate was down 4.8 points over the year, according to the news release. 

A Senate committee recently held hearings on Pennsylvania's slow economic recovery in an attempt to determine a better way forward. Several business leaders highlighted the severe workforce shortage that is holding the economy back, according to the Pennsylvania Business Report.

The York Daily Record highlighted several businesses offering large signing bonuses in an attempt to attract applicants. Gene Barr, president and CEO of the Pennsylvania Chamber of Business and Industry called the current situation "a full-blown crisis."

Barr alleged the extra federal unemployment money is actively dis-incentivizing people from seeking jobs, according to the York Daily Record. 

Pennsylvania is making progress. The commonwealth's civilian labor force decreased 16,000 over the month due to a drop in unemployment. In the past six months, employment rose for the fifth time.

Total non-farm jobs were up 28,800 over the month to 5,731,800 in July, according to the news release. Leisure and hospitality had the largest 12-month gain, adding back 16,200 jobs.

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