Emphasizes Importance, Success of Investment in Key Industries
HARRISBURG – Pennsylvania’s statewide unemployment rate (1) fell to 8.8 percent in October as the economy added 15,900 non-farm jobs (2), Rendell said, noting that investments in manufacturing and other key industries are helping drive the state’s economic recovery.
The Department of Labor & Industry reported that October unemployment was down 10,000 to the lowest level in a year. Total non-farm jobs are up 48,000 from October 2009, including a 3,000 net increase in manufacturing jobs — that sector’s first over-the-year growth in a decade.
“Pennsylvania’s unemployment rate dropped two-tenths of a percentage point from September. That marks the third month in a row the rate dropped; now it is nearly a full percentage point better than the national rate of 9.6 percent,” Rendell said. “In fact, our rate has been at or below the national rate for 91 of the past 94 months.
“This is great news for Pennsylvania’s economy and for people looking for work,” said Rendell. “The investments we’ve made in manufacturing and other crucial industries are helping attract employers to Pennsylvania, keeping employers here and helping them to add jobs and hire people.”
Rendell noted that in the past 30 days, the state announced investments to help manufacturing businesses in Franklin, Jefferson, Mercer and Schuylkill counties create more than 140 new jobs.
“These investments are just recent examples of the investments we have consistently made over the past eight years that helped make Pennsylvania among the nation’s most attractive places to live, work and do business.
“The targeted investments we’ve made in various industries — competitive grants, low-interest loans, industry partnerships and incumbent worker training — are helping connect employers with the skilled workforce they need to be successful in the global economy,” Rendell said. “They helped employers weather the worst of the recession and they are helping connect workers with career-focused employment that pays a family-sustaining wage.
“By working closely with employers, listening to what they need and helping create an environment that lends itself to their success, we can make investments that will stimulate job growth now and for years to come,” he added.
Editor’s Note: The Pennsylvania Department of Labor & Industry released “Pennsylvania’s Employment Situation October 2010.” To receive a copy, call 717-787-7530 or visit www.pa.gov.
1The monthly Unemployment Rate is based on the Current Population Survey (CPS). CPS, also known as “household” survey, data is the primary source of Civilian Labor Force and Employment statistics. It is a monthly household survey conducted by the U.S. Bureau of Labor Statistics, reaching about 2,500 households in Pennsylvania. This survey counts how many people are employed, regardless of how many jobs they are actually working.
2The monthly Nonfarm Job Count is based on the Current Employment Statistics (CES), also known as “payroll,” survey and is the source of nonfarm jobs data by industry. It is a monthly survey of employers conducted by L&I’s Center for Workforce Information & Analysis in conjunction with the U.S. Bureau of Labor Statistics, reaching about 18,000 businesses. This data may include multiple jobs held by a single individual.