FOR IMMEDIATE RELEASE: September 24, 2025
Contact: Stephanie Brooks, 215-407-8582
PHILADELPHIA – City Controller Christy Brady today released the September 2025 Municipal Money Matters report, offering a look at the city’s workforce and economic health. The report highlights the continued strength of Philadelphia’s core employment sectors; education, healthcare, government, and transportation, while also underscoring the growth of small businesses and rising economic indicators for residents.
Anchor institutions such as the University of Pennsylvania, Thomas Jefferson University, Children’s Hospital of Philadelphia, and Temple University Hospital remain among the city’s largest employers. Their prominence reflects the growing influence of higher education and healthcare, commonly referred to as “Eds & Meds”, in shaping the city’s workforce and economy.
Government employment remains a stable foundation for Philadelphia’s economy. The Federal Government, the City of Philadelphia, and the Philadelphia School District continue to provide tens of thousands of jobs, supporting residents across all neighborhoods. The transportation sector also plays a vital role, with SEPTA and American Airlines maintaining their positions as major employers and contributing to the region’s job market.
“Philadelphia’s economy is powered by our large institutions and the entrepreneurial spirit of our neighborhoods,” said Controller Brady. “As City Controller, I’m committed to making sure residents have access to the data that shapes our city’s decisions. This report reflects not just where we are, but where we’re headed.”
In addition to large employers, small businesses are proving essential to Philadelphia’s economic vitality. The number of small businesses, defined as those with 99 employees or less, grew from 27,395 in 2014 to 29,460 in 2023. These businesses employ a significant portion of the city’s workforce and contribute to the vibrancy and character of the city’s commercial corridors.
While the city’s population remained relatively stable, residents experienced meaningful economic gains. Median income rose from $47,651 to $61,829, and unemployment dropped from 8.0% to 4.2% over the same period.
Visit https://controller.phila.gov/ to view the City Controller’s September 2025 Municipal Money Matters.
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