Wednesday, March 20, 2013

PA Unemployment Rate Rises More Than Any Other State From January 2012 To January 2013, Despite Gas Boom

This is one ranking no state wants to win. But Pennsylvania's unemployment rate rose more than any other state from January 2012 to January 2013.

Pennsylvania's unemployment rate jumped from 7.6% to 8.2% from January 2012 to January 2013. That 0.6 percentage point increase was more than the 0.5 percentage point increase in New Hampshire that had the second highest unemployment rise. Only 7 states suffered from a rising unemployment rate in the period.

Pennsylvania's unemployment rate also climbed from 7.9% in December 2012 to 8.2% in January 2012.  The national unemployment rate in January 2013 was 7.9%. After being normally well below the national unemployment rate from 2003 to 2011, Pennsylvania's unemployment rate has been higher or equal to the national average since October 2012.

Those are ugly facts for Pennsylvania, and they are reality, despite the gas boom that has made the Marcellus America's biggest gas producing field. Gas alone cannot bring prosperity to Pennsylvania. No single industry can. Unfortunately, Governor Corbett's administration fails to understand Pennsylvania's economy and ugly facts result.

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