Pennsylvania’s unemployment rate hit a historic low in May, reaching 4 percent, according to the latest report released by the Pennsylvania Department of Labor and Industry.
The state’s unemployment rate experienced a decline of one-tenth of a percentage point, reaching the record low of 4 percent. The figure marks the lowest rate on record since January 1976, state data showed.
In contrast, the national unemployment rate saw a slight increase of three-tenths of a percentage point from April, standing at 3.7 percent in May.
The state’s unemployment rate was three-tenths of a percentage point below its May 2022 level, state officials said.
Pennsylvania experienced positive growth in its labor force, with an estimated 1,000 additional residents working or actively seeking employment in May. The number of employed residents in the state rose by 9,000 during the same period, while unemployment had a decline of 9,000 individuals, according to the Pennsylvania Department of Labor and Industry.
Pennsylvania’s total nonfarm jobs reached a new record high, surging by 7,900 to reach a staggering 6,122,500 in May.
The news marks the fifth consecutive month in which the state has set a new all-time high level of employment.
Among the 11 industry supersectors, nine experienced job growth from April, with professional and business services leading the way with an gain of 3,700 jobs, reaching a record high level, state officials said.
According to the U.S. Bureau of Labor Statistics, the unemployment rate in Bucks County for April – the most recent month for which data are available – was 2.9 percent, a decrease from the previous month.