Indicators Report: Economic Recovery In Scranton/Wilkes-Barre Region Isn’t Stable

PLAINS TOWNSHIP, PA — Wages remain relatively low in Luzerne and Lackawanna counties and both need to work on more consistent long-term job creation and growth, said Teri Ooms, executive director of the Institute for Public Policy and Economic Development at Wilkes University.

Economic recovery in the two counties has been uneven since the recession hit in late 2007 and lasted until 2009. While the unemployment rate in the area has been dropping over the last few years, that was because those participating in the labor force decreased, Ooms said.

“The good news is labor force participation has finally begun to increase, more so within the past couple months,” Ooms said. “It is now at pre-recession levels, but the challenge we’ve had is post-recession. There have been too many peaks and valleys. We’re not stable.”

The region’s unemployment rate was among many issues Ooms and Andrew Chew, research analyst, discussed as they presented the institute’s 90-page Indicators Report for Luzerne and Lackawanna counties Thursday at Mohegan Sun Pocono’s convention center.

Read more:

http://citizensvoice.com/news/indicators-report-economic-recovery-in-region-isn-t-stable-1.1886047

Scranton/Wilkes-Barre Metropolitan Area Loses Title Of Highest Unemployment Rate In Pennsylvania

After 57 months, the Scranton/Wilkes-Barre Metropolitan Area is no longer dead last in the unemployment rating for Pennsylvania Metropolitan Areas.  After expanding the eligible metro areas from 14 to 18, Johnstown and East Stroudsburg have pushed Scranton/Wilkes-Barre out of last place.  If nothing else, psychologically it gives the beleaguered Scranton/Wilkes-Barre Area a lift.

Scranton/Wilkes-Barre Area Suffers High Childhood Poverty, Shrinking Middle Class, Reports Say

Locator map of the Scranton-Wilkes-Barre Metropolitan Statistical Area in the northeastern part of the of . (Photo credit: Wikipedia)

It was grim news Tuesday as a flurry of reports showed that Luzerne County’s middle class is shrinking while the wealthiest get richer with nearly one third of children under 18 live in poverty.

Data show while the unemployment rate has dropped substantially both nationally and locally, the poverty rate has not seen a corresponding drop.

If there was a silver lining in the data put out by three different sources, it may be that Luzerne and Lackawanna counties have lower rates of uninsured children than the state.

Pennsylvania Partnerships for Children — which bills itself as a nonprofit and non-partisan child advocacy group — issued its annual “State of Children’s Health Care” report, which showed that the percentage of children lacking health insurance statewide dipped slightly since last year’s report, from 5.3 percent to 5.2 percent.

Read more: http://www.timesleader.com/news/local-news-news/50324023/Grim-news-from-three-new-reports

Unemployment In Scranton/Wilkes-Barre Metro Area Down, Lowest Since October 2008

Locator map of the Scranton-Wilkes-Barre Metropolitan Statistical Area in the northeastern part of the of . (Photo credit: Wikipedia)

The unemployment rate in the Scranton/Wilkes-Barre area edged down by one-tenth of 1 percent in July to 6.8 percent, the lowest since October 2008, according to figures released today by the state Department of Labor & Industry.

A year earlier, the rate was 9 percent.

Read more: http://www.timesleader.com/news/news/50204988/Unemployment-in-the-region-down-lowest-since-October-2008#.U_z2hvRDsxI

Northeastern Pa. Jobless Rate Falls

Locator map of the Scranton-Wilkes-Barre Metropolitan Statistical Area in the northeastern part of the of . (Photo credit: Wikipedia)

WILKES-BARRE, PA – Following a recent pattern, the unemployment rate in the Scranton/Wilkes-Barre market fell in May, but so did the number of people with jobs.

The 7.2 percent rate was down one-tenth of 1 percent from April and 1.9 percentage points from the May 2013 rate of 9.1 percent, the state Department of Labor and Industry said. But the region that includes Luzerne, Lackawanna and Wyoming counties maintained the unenviable distinction of having the highest jobless rate in Pennsylvania.

Both the size of the labor force – people working or looking for work – and the number of people with jobs fell compared to April and over the year. So, while 6,100 fewer people were reported as unemployed than last May, some of them may have given up looking for work.

Read more: http://timesleader.com/news/business/1509561/Northeastern-Pa.-jobless-rate-falls

Pennsylvania’s Stagnant 2013 Growth Has Political Repercussions

Map of Pennsylvania, showing major cities and roads (Photo credit: Wikipedia)

Pennsylvania’‍s economy stalled last year, according to a report from the federal Bureau of Economic Analysis.

Pennsylvania’‍s real gross domestic product, an indicator of general economic conditions, grew just 0.7 percent in 2013. Only three states and Washington, D.C., saw slower growth.

Pennsylvania was also out-performed by its neighbors, West Virginia and Ohio, which saw 5.1 and 1.8 percent growth respectively. West Virginia has now outgrown Pennsylvania for six straight years, and Ohio has for two. Even struggling New Jersey beat out the Keystone State, posting 1.1 percent growth.

Read more: http://www.post-gazette.com/business/2014/06/19/Pennsylvania-s-stagnant-2013-growth-has-political-repercussions/stories/201406190114#ixzz356R8ZzWX

Pittsburgh-Area Employers Added 22,300 Jobs In April

Locator map of the Greater Pittsburgh metro area in the western part of the of . Red denotes the Pittsburgh Metropolitan Statistical Area, and yellow denotes the New Castle Micropolitan Statistical Area, which is included in the Pittsburgh-New Castle CSA. (Photo credit: Wikipedia)

Sunny Kourkoutis spent six months on unemployment and a couple more working in a job she hated before she found something that suited her restaurant experience.

“When I was on unemployment, I could have easily gotten a job as a server,” said Kourkoutis, 42, of Bridgeville. “But at my age, it’s not something I really saw myself doing.”

In April, Kourkoutis finally found a job she enjoyed. She was hired as reservations manager at Jacksons Restaurant in Cecil and since was promoted to assistant executive manager. In so doing, she joined a hospitality industry that added 8,100 jobs last month and has led growth in the local economy.

Employers in the seven-county Pittsburgh region added 22,300 nonfarm jobs in April, and the unemployment rate declined two-tenths of a percentage point to 5.6 percent, according to preliminary figures released on Wednesday by the Pennsylvania Department of Labor and Industry. The decline occurred as 3,900 more people began looking for work, an expression of confidence in Pittsburgh’s economy.

Read more: http://triblive.com/business/headlines/6188520-74/22300-added-april#ixzz338k1vjC0
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More People Moving Into Scranton/Wilkes-Barre Region Than Out

Locator map of the Scranton-Wilkes-Barre Metropolitan Statistical Area in the northeastern part of the of . (Photo credit: Wikipedia)

PLAINS TOWNSHIP, PA — More people are moving into the region than leaving.

Migration into Luzerne and Lackawanna counties is on the rise and much of the immigration is coming from New York, New Jersey and elsewhere in Pennsylvania, according to the 2014 Indicators Report from the Institute for Public Policy and Economic Development at Wilkes University.

The report, unveiled Thursday morning to business and civic leaders who filled the convention center at Mohegan Sun at Pocono Downs, analyzed 120 indicators in areas such as demographics, population and migration, jobs and the economy. It was the ninth year for the event, said Teri Ooms, executive director of the institute.

Ooms highlighted the 2010 Census, which shows a growing population for the first time since the 1950s. Some are from the low- to moderate-income demographic and some earn a middle- to upper-middle income, the report showed.

Read more: http://citizensvoice.com/news/more-people-moving-into-region-than-out-1.1690955

US Gains 288k Jobs, Most In 2 Years; Rate 6.3 Percent

WASHINGTON (AP) – U.S. employers added a robust 288,000 jobs in April, the most in two years, the strongest evidence to date that the economy is picking up after a brutal winter slowed growth.

The Labor Department also said Friday that the unemployment rate sank to 6.3 percent, its lowest level since September 2008, from 6.7 percent in March. But the drop occurred because the number of people working or seeking work fell sharply. People aren’t counted as unemployed if they’re not looking for a job.

In addition to the burst of hiring in April, employers added more jobs in February and March than previously estimated. The job totals for those two months were revised up by a combined 36,000.

Employers have now added an average of 238,000 jobs the past three months, up from 167,000 in the previous three.

Read more at http://www.philly.com/philly/business/20140502_ap_8f84a138e20f4ac28ac7183f68972fba.html#8ZcZ0H6uK0amdHP5.99

Study Showing Area’s Shaky Economy No Surprise

Locator map of the Scranton-Wilkes-Barre Metropolitan Statistical Area in the northeastern part of the of . (Photo credit: Wikipedia)

Frank Nemeth, of Wilkes-Barre, doesn’t need a study to tell him the region is in rough shape.

Nemeth works at the Main Street Trading Post, a pawn shop south of Public Square, and he said his job has exposed him to the harsh realities of the city’s economy.

“I don’t see any recovery happening,” he said.

Instead, Nemeth said he sees some of the same people everyday — sometimes two or three times — trying to sell their belongings to afford necessities like food and gas.

Read more: http://timesleader.com/news/news/1334175/Study-showing-areas-shaky-economy-no-surprise

Philadelphia Area Unemployment Up From December

Unemployment in the Philadelphia metropolitan area rose in January to 7.1 percent, up from 6.4 percent in December, but down from 9 percent in January 2013, the U.S. Labor Department reported Friday.

Read more at http://www.philly.com/philly/business/20140322_Area_unemployment_up_from_December.html#ouUzERh3WigAgK9U.99

Local Unemployment Rate Lowest Since July 2009

Locator map of the Scranton-Wilkes-Barre Metropolitan Statistical Area in the northeastern part of the of . (Photo credit: Wikipedia)

The tri-county area including Luzerne, Wyoming and Lackawanna ended 2013 just like it began, with the highest unemployment rate of the state’s 14 metropolitan statistical areas. December also marked the 45th month in a row the Scranton/Wilkes-Barre/Hazleton region held that distinction.

Read more: http://timesleader.com/news/business/1171547/Local-unemployment-rate-lowest-since-July-2009

US Economy Grew At 3.2 Percent Rate In Q4

Seal of the United States Department of Commerce (Photo credit: Wikipedia)

WASHINGTON (AP) – The U.S. economy grew at a 3.2 percent annual rate in the October-December quarter on the strength of the strongest consumer spending in three years, an encouraging sign for 2014.

The fourth-quarter increase followed a 4.1 percent growth rate in the July-September quarter, when the economy benefited from a buildup in business stockpiles.

For 2013 as a whole, the economy grew a tepid 1.9 percent, weaker than the 2.8 percent increase in 2012, the Commerce Department said Thursday. Growth was held back last year by higher taxes and federal spending cuts.

With that drag diminished, many economists think growth could top 3 percent in 2014. That would be the best performance since the recession ended in mid-2009.

Read more at http://www.philly.com/philly/business/20140130_ap_ef9a502bf87446ee8b002fe557b26ec6.html#wThbbpJD49oI0jQw.99

Lancaster County Jobless Rate Drops Under 6 Percent

Map of Pennsylvania highlighting Lancaster County (Photo credit: Wikipedia)

Lancaster County‘s unemployment rate fell again in November, dipping to 5.9 percent from October’s 6.1 percent, the state reported Friday.

In declining for the third straight month, the local jobless rate sank to its lowest point since December 2008, when it was 5.6 percent.

The new rate means the county continues to slowly make progress toward its pre-recession level of unemployment.

“It’s taking a lot of time to settle down,” said Bill Sholly, an analyst with the state Department of Labor & Industry.

Read more: http://lancasteronline.com/article/local/939510_Lancaster-County-jobless-rate-drops-under-6-percent.html#ixzz2pRyoxj1x

Berks County Unemployment Declines

Map of Pennsylvania highlighting Berks County (Photo credit: Wikipedia)

Berks County‘s unemployment rate decreased to 7.3 percent in November from 7.4 percent in October, the lowest unemployment rate since January 2009, when it was also 7.3 percent, the state Department of Labor and Industry reported Friday.

Berks’ unemployment rate was the eighth-lowest among the state’s 14 metropolitan statistical areas, or MSAs.

“For Berks, as an MSA, it did rather well compared to other MSAs,” said Steven Zellers, industry and business analyst at Labor and Industry.

Lebanon and Centre counties had the lowest rates, 5.8 percent, while Scranton/Wilkes-Barre‘s was the highest at 9.1 percent.

Read more: http://readingeagle.com/article/20140104/MONEY/301049989#.Usgx5_RDsxI

Pennsylvania’s Unemployment Rate Falls As More Drop From Work Force

Pennsylvania’s unemployment rate fell to 7.3 percent in November from October’s 7.5 percent, the Department of Labor and Industry reported this morning.

The rate, which is seasonally-adjusted, fell mostly because people who were unemployed quit looking for work rather than because they found new jobs.

Read more: http://www.post-gazette.com/business/2013/12/20/Pennsylvania-s-unemployment-rate-falls-as-more-drop-from-work-force/stories/201312200143#ixzz2o2SV0sr4

U.S. Unemployment Falls To 7%

WASHINGTON – A fourth straight month of solid hiring cut the U.S. unemployment rate in November to a five-year low of 7 percent. The surprisingly robust job gain suggested that the economy may have begun to accelerate.

It also fueled speculation that the Federal Reserve will scale back its economic stimulus when it meets later this month.

Employers added 203,000 jobs last month after adding 200,000 in October, the Labor Department said Friday. November’s job gain helped lower the unemployment rate from 7.3 percent in October.

The economy has now generated a four-month average of 204,000 jobs from August through November. That’s up from 159,000 a month from April through July.

US Employers Add 169K Jobs; Rate Falls To 7.3 Percent

WASHINGTON (AP) — U.S. employers have yet to start hiring aggressively — a trend the Federal Reserve will weigh in deciding this month whether to slow its bond buying and, if so, by how much.

Employers added 169,000 jobs in August but many fewer in June and July than previously thought, the Labor Department said Friday. Combined, June, July and August amounted to the weakest three-month stretch of job growth in a year.

The unemployment rate dropped to 7.3 percent, the lowest in nearly five years. But it fell because more Americans stopped looking for work and were no longer counted as unemployed. The proportion of Americans working or looking for work reached its lowest point in 35 years.

All told, the report adds up to a mixed picture of the U.S. job market: Hiring is steady but subpar. Much of the hiring is in lower-paying occupations. And many people are giving up on the job market in frustration.

Read more: http://bigstory.ap.org/article/us-employers-add-169k-jobs-rate-falls-73-pct

U.S. Employers Add 165,000 Jobs; Rate Falls To 7.5 Percent

WASHINGTON — U.S. employers added 165,000 jobs in April, and hiring was much stronger in the previous two months than the government first estimated.  The job increases helped reduce the unemployment rate from 7.6 percent to a four-year low of 7.5 percent.

The report today from the Labor Department was a reassuring sign that the U.S. job market is improving despite higher taxes and government spending cuts that took effect this year.

The government revised up its estimate of job gains in February and March by a combined 114,000.  It now says employers added 332,000 jobs in February and 138,000 in March.  The economy has created an average of 208,000 jobs a month from November through April — above the 138,000 added in the previous six months.

The number of unemployed fell 83,000 to 11.7 million.

Read more:  http://readingeagle.com/article.aspx?id=474934

Lancaster County Jobless Rate Drops in February

Map of Pennsylvania highlighting Lancaster County (Photo credit: Wikipedia)

Lancaster County’s unemployment rate slipped to 6.8 percent in February, the state Department of Labor & Industry said Tuesday.

By declining slightly from January’s 6.9 percent, the county’s rate remained among the best in Pennsylvania.

Of the state’s 14 metropolitan areas, only State College (6.0 percent) and Lebanon (6.7 percent) had better unemployment rates.

Scranton/Wilkes-Barre had the worst, at 9.8 percent.

Read more: http://lancasteronline.com/article/local/833506_County-jobless-rate-drops-in-Feb-.html#ixzz2PLlDgtjp