Lehigh Valley’s Unemployment Rate Drops; Compares Favorably to National, State Rates
By Colin McEvoy on August 4, 2015
The Lehigh Valley’s unemployment rate has dropped again, keeping well-aligned with both the state and national rates, and comparing favorably to other Pennsylvania metropolitan areas.
The Lehigh Valley unemployment rate is 5.5 percent for June 2015, according to preliminary state data, down from 5.6 percent the previous month and from 6.2 percent in June 2014.
The national and state unemployment rates are also 5.5 percent this month. Pennsylvania’s rate has dropped from 6 percent in June 2014, while the national rate has dropped from 6.3 percent a year ago.
“Jobs in the region are on the rise and the Lehigh Valley’s economic base is very diversified and multi-faceted, with a balance in many different sectors rather than depending on one anchor industry,” said Don Cunningham, LVEDC President and CEO. “This results in a healthier and more vibrant regional economy.”
Pennsylvania unemployment rates are lower in June 2015 than a year earlier in 16 out of 18 major metropolitan areas in the state, and were unchanged in two metros (Altoona’s 5.6 percent and Williamsport’s 6.1 percent).
The Lehigh Valley’s unemployment rate is lower than several of the other regions, including Philadelphia (5.6 percent), Scranton (6.3 percent), Erie (5.7 percent), and East Stroudsburg (6.6 percent).
Nationally, unemployment rates are lower than a year earlier in 351 out of 387 metropolitan areas, according to the U.S. Bureau of Labor Statistics. The rates are higher in 28 metros and unchanged in eight.
Also nationwide, six areas had jobless rates of less than 3 percent (2.6 percent in Lincoln, Neb., and 2.8 percent in Yuma, Ariz.), and five regions had at least 10 percent, according to the state.
Nonfarm payroll employment has increased over the year in 317 metros, decreased in 61, and was unchanged in nine, according to the U.S. Bureau of Labor Statistics. The numbers used by the state are not seasonally-adjusted.
New Lehigh Valley Workforce Study is the Subject of Special Business Profile Issue
A comprehensive new study unveiled last month assessing the strengths and weaknesses of the Lehigh Valley’s workforce is the centerpiece of a special business issue released[...]Continue to Next Page