Description of the Indicator
This indicator measures the employment growth and unemployment rates for the three counties and the Commonwealth, sourced from the Bureau of Labor Statistics.
Why is it important?
Business growth and new job creation are pivotal components of a strong economy. The indicator shows the local economy’s expansion and measures the area’s overall economic condition. A strong economy and workforce will help attract new businesses to the region and support the growth of its communities.
How is the region performing?
According to the latest measure, Lackawanna County’s unemployment rate was 3.7 percent, Luzerne County’s was 4.2 percent, and Wayne County’s was 3.8 percent. Since 2020, the region’s unemployment rates have declined, following the state’s trend. At the same time, labor force participation has increased in all geographies analyzed.