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:
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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.
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.
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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.
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