Monthly Economic Report: Philadelphia’s Job Market Shows Gains

Audit Date: March 28, 2013
Audit Categories
  • Financial
Controller: Alan Butkovitz

Executive Summary

For Immediate Release:
March 28, 2013

Contact: Brian Dries

Philadelphia’s Job Market Shows Gains
City Controller’s economic report reviews Philadelphia’s current
employment situation; Education & Health continue to lead

February 2013 Economic Report

PHILADELPHIA – City Controller Alan Butkovitz today released his latest monthly economic report that indicated Philadelphia’s employment count for February totaled 661,000 jobs, which is an increase of 2,600 over the last year.

The Education and Health Services industry realized the largest year-over-year gain with 2,500 jobs. This industry accounts for 219,400 jobs in Philadelphia. Some of the other industries with year-over-year gains or losses in February included the following:

Industry Net Change Construction +1,300 Professional & Business Services +1,100 Financial Activities +200 Leisure & Hospitality -900 Government -2,300

The latest monthly job count showed more than 24,300 job openings were advertised online in Philadelphia, which is second to Allegheny County for most job openings. Most of these openings were advertised for positions in healthcare, education, professional and technical services and retail trade.

Along with reviewing local job statistics, the Controller’s economic report indicates that Wage, Earnings and Net Profit taxes for the year have totaled $1.1 billion, marking a four percent increase over last year. Yearly sales tax collections have totaled approximately $173 million, an three percent increase over the previous year.

The Controller’s economic report is compiled on a monthly basis and includes an Economic Snapshot and Forecast, as well as real estate information and other local statistics. These reports are circulated every month to assist key decision makers in understanding and anticipating local and national economic trends.