Key Trends in Pennsylvania and the Mid-Atlantic Region

ㅤ

The job market in Pennsylvania and the Mid-Atlantic region is expected to experience steady growth in 2024, according to recent projections by the U.S. Bureau of Labor Statistics and private research firms.

Given current economic and industry trends, we anticipate the following key developments in the employment landscape for the upcoming 2024 year:

• Overall job growth is forecasted to be around 1.5% in Pennsylvania, slightly outpacing the national average. The healthcare, construction, professional services, and hospitality industries are likely to see the strongest hiring.
• Manufacturing employment, once a mainstay of the Pennsylvania economy, will remain flat or continue a slow decline as automation and technology replace some human roles. However, advanced and high-tech manufacturing is projected to be a bright spot.
• Natural gas drilling in the Marcellus Shale region will continue to create jobs, though at a slower pace than in previous years as the industry matures. The related petrochemical and pipeline industries are still rapidly expanding in western PA.
• Metro areas like Philadelphia, Pittsburgh, Harrisburg, and Lancaster are hotspots for job growth, while more rural areas continue to struggle with losses in traditional industries. However, remote work trends are creating some new opportunities.

 — Boost Your Recruitment Efforts in 2024 – See How —

• As baby boomers retire, finding and retaining qualified workers will be a challenge across most industries. Competition for skilled talent will be high. Apprenticeships and training programs will be key to developing new workforces.
• Healthcare demand is booming with an aging population. Hospitals, clinics, home care agencies, and nursing homes will be hiring. Medical assistant and nurse positions will be among the fastest growing.
• Construction is very active, especially in commercial buildings, infrastructure, and housing. Tradespeople like electricians and plumbers will be in high demand.

To sum up, the economic outlook for Pennsylvania and the surrounding region remains generally positive for 2024. Job seekers skilled in growing fields like healthcare, construction, manufacturing, and professional services should find solid opportunities, especially in urban areas. Employers will need to focus on worker training and retention.

Wage Outlook:

Wages across most industries in Pennsylvania and the Mid-Atlantic region are expected to rise moderately in 2024, with projected growth around 3-4% on average. This pace should slightly exceed national wage growth. The strongest increases are likely in high-demand fields like technology, engineering, construction, and healthcare.

However, pay raises may fail to keep up with inflation, especially impacting lower wage workers. Employers will need to benchmark compensation to stay competitive.

 — For assistance on staffing and recruiting efforts, dial our team at 877-717-1774 —

Growing Occupations:

• Nurse practitioners, software developers, construction managers among fastest growing roles
• Strong demand for physical therapist assistants, home health aides, cybersecurity analysts, wind turbine technicians
• Opportunities expanding in healthcare, technology, construction, skilled trades, green energy
• Job seekers with relevant credentials and technical skills likely to have multiple options
• Fierce competition expected for top talent, especially in technology and leadership roles
• Employers will need compelling recruitment and retention strategies to attract best candidates

The job market in Pennsylvania and surrounding states is expected to see steady growth in 2024, led by hiring in healthcare, construction, manufacturing, natural gas, and urban professional services. However, labor shortages due to retirements and high demand will make recruiting and retaining talent challenging across industries.

Employers will need to focus on competitive compensation and training programs to attract skilled workers. Economic expansion will be centered in major urban areas like Philadelphia and Pittsburgh, while rural regions continue to face struggles. With the right workforce strategies, Pennsylvania is primed for job growth in 2024.

Contact Information

1818 Market St Suite 3310, Philadelphia, PA 19103
(267) 314-7100