Montco’s 4.2 Percent Unemployment Rate Much Lower than State Average

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The Pennsylvania Department of Labor & Industry and its Center for Workforce Information & Analysis recently released an employment situation report, and it speaks to how well Montgomery County is doing relative to the other counties in the state.

Three of perhaps the biggest indicators of Montgomery’s County’s prosperity are

  • Its per capita personal income is $75,835, while the rest of the state checks in at $47,679.
  • Its median household income is $79,926, while the rest of the state checks in at $53,115.
  • Its median family income is $99,683, while the rest of the state checks in at $67,521.

The most recent data also reveals that Montgomery County’s unemployment rate is 4.2 percent, whereas the average in Pennsylvania is 5.3 percent. Only 18,400 people of the 436,200 people in the county’s workforce are jobless. The veteran unemployment rate in Delco (8.6 percent), however, is higher than the Pennsylvania average (8.1 percent).

The most unemployment compensation exhaustees in Montgomery County work in the Professional & Business Services sector (23.5 percent), and the second most are in Trade, Transportation & Utilities (20.0 percent).

The entry-level and average wages in several major occupational groups are higher in Montgomery County than they are in the rest of the commonwealth. For instance, the entry-level wage for management positions is almost $16,000 higher, while the entry-level wage for legal occupations is almost $11,000 higher. And the average wage for a job in the former group is roughly $26,000 more in Montco than the rest of Pennsylvania.

Montgomery County saw an uptick in the percentage of online jobs posted in the last year, with 2.8 percent, while the rest of the state had a modest increase of 0.5 percent.

The Top 10 employers in the county are Merck Sharp & Dohme Corporation, Abington Memorial Hospital, Main Line Hospitals, the state government, Giant, Smithkline Beecham, Montgomery County, Tristar Staffing, the federal government, and SEI Investments.

Top photo credit: 20160216 Career Fair 0034 via photopin (license)

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