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September 19, 2008
More details on Pennsylvania's employment situation.
Since December a total of 22,700 jobs have been lost in Manufacturing, Construction and Trade, Transportation and Utilities. Over the same period another 5,400 jobs were shed in Financial Activities and Information (Figure 1).
With the jump in the unemployment rate to 5.8% in August unemployment is now equal to a high reached in early 2003 (Figure 2).
(See larger image)
It is important to remember that employment continued to decline for 19 months following the official end of the 2001 recession (Figure 3). The unemployment rate only started to decline once employment starting growing again in August 2003.
(See a larger figure)
--Mark Price
Posted by Price at September 19, 2008 04:16 PM