Some good news/bad news in regional unemployment numbers
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There is some good and bad news with the monthly unemployment numbers in the region.
Economic advisor Luke Tilley at the Federal Reserve Bank of Philadelphia says the jobless rate for most of the region is getting better.
“The unemployment rate in Pennsylvania stayed steady from last month it stayed at 5.6 percent, but it’s down significantly from a year ago when it was 7.5 percent,” Tilley said. “New Jersey came down a little bit down two tenths of a point in June down to 6.6, Delaware has moved up from 5.9 to 6.1 percent.”
Tilly says our region looks a lot like the nation as a whole.
“We do have some people that are discouraged with the labor market but the good news is the number of people employed is going up for Pennsylvania New Jersey and for Delaware,” he said.
Despite it’s improving employment rate, New Jersey has a long way to go to fully recover from the recession. It has added back just 45 percent of the jobs lost.
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