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March 3, 2024 8:34 am

Local News

Pennsylvania’s Unemployment Rate Holds Steady at Historic Low

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In its October 2023 employment situation report, the Pennsylvania Department of Labor & Industry revealed that the state’s unemployment rate held steady at a historic low of 3.4%, unchanged from the previous month and notably below the national rate of 3.9%. Pennsylvania’s unemployment rate in October 2023 was a full percentage point lower than the same month in 2022, while the national rate increased by two-tenths of a percentage point over the year.  Despite a monthly decrease of 4,700 (nonfarm) jobs, the state saw a significant year-over-year increase of 129,200 total nonfarm jobs, led by gains in 10 of the 11 supersectors. In particular, education & health services experienced the largest volume gain over the year, reaching a record high.

According to the Department’s Center for Workforce Information & Analysis, the seasonally adjusted unemployment rate in the seven-county Pittsburgh Metropolitan Statistical Area (MSA) was unchanged over the month at a record low of 3.5 percent. The Pittsburgh MSA’s rate was 1.0 percentage point(s) below its October 2022 level of 4.5 percent.