Pennsylvania Economic Outlook: Spotlight on Jobs

Like the nation as a whole, Pennsylvania has suffered through a painful year of recession. Although the unemployment rate in the Keystone State has not risen as far as the national unemployment rate, the state’s jobless rate currently stands at a 25-year high. We fear a jobless recovery may be in the offing over the next year or two, but employment growth in Pennsylvania will eventually turn positive … Like the nation as a whole, Pennsylvania has suffered through a painful year of recession. Although the unemployment rate in the Keystone State has not risen as far as the national unemployment rate, the state’s jobless rate currently stands at a 25-year high. We fear a jobless recovery may be in the offing over the next year or two, but employment growth in Pennsylvania will eventually turn positive again. Which sectors and areas in Pennsylvania will drive employment growth during the next expansion? Thank you for your interest in Wells Fargo’s Economic Commentary by Email. You are receiving this message because you have requested Economic Commentary information and updates sent via email. If you no longer wish to receive these emails, please click on the following link to access the Economic Commentary by Email registration page: http://www.wachovia.com/economicsemail.

Wells Fargo Securities Economics Group publications are produced by Wells Fargo Securities, LLC, a U.S broker-dealer registered with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority, and the Securities Investor Protection Corp. Wells Fargo Securities, LLC, distributes these publications directly and through subsidiaries including, but not limited to, Wells Fargo & Company, Wachovia Bank N.A., Wells Fargo... More