As the American economy continues in its slow recovery from the Great Recession, the economic situation in the Commonwealth of Pennsylvania essentially reflects the national trend. From the natural resources in the state’s mountainous regions to the modern, technology-based workforces in large metropolitan areas like Pittsburgh and Philadelphia, Pennsylvania boasts a diverse economy.
Ultimately, it is a location where someone with a STEM-based education can find a rewarding career in any of the state’s large cities. Let’s take a closer look at what the numbers from the Bureau of Labor Statistics reveal.
The Unemployment Rate Largely Holds Steady in 2013
Pennsylvania’s unemployment rate stayed near a constant 7.5 percent throughout the middle of 2013, with a slight uptick to 7.7 percent in August. The Leisure and Hospitality as well as Professional and Business Services sectors showed the greatest increase in workers over the last 12 months as of October with 2.4 percent and 2.1 percent respectively. The total number of non-farm workers grew by 0.5 percent over that same period.
Workers with Bachelors degrees enjoyed the lowest unemployment rate at 3.9 percent for the third quarter of 2013. This is down from the 5.2 percent reported for the same period in 2012. Those with an Associates degree or that at least attended college for a period of time also saw lower unemployment rates compared to workers with high school diplomas or less.
Pennsylvania’s Growing Companies
The Keystone State is home to growing companies in a wide variety of industries. At the beginning of the year, the Professional, Scientific, and Technical Services sector — of special interest to those in the STEM world — boasted 291 growing companies compared to 49 declining companies. According to the Pennsylvania Department of Labor and Industry:
“Growing Companies are companies that began the period with at least 10 employees and increased their employment for four consecutive quarters and by at least 10%.”
“Declining Companies are companies that began the period with at least 20 employees and lost employment for four consecutive quarters and by at least 10%.”
In short, STEM-related fields are performing well in the Pennsylvania economy. If you are excited about the prospects of a career in one of the STEM disciplines in Pennsylvania or anywhere on the east coast, talk to the expert staff at Scientific Search. One of the top STEM staffing agencies in Pennsylvania, contact us today to learn how a partnership with us can benefit your career.
