Monthly Economic Report – Two Unemployed Philadelphians Per Job Opening

Audit Date: January 28, 2014
Audit Categories
  • Financial
Controller: Alan Butkovitz

Executive Summary

For Immediate Release:
January 28, 2014

Contact: Brian Dries

Two Unemployed Philadelphians Per Job Opening
City Controller’s economic report includes review of Philadelphia’s
unemployed per job opening ratio

December 2013 Economic Report

PHILADELPHIA – City Controller Alan Butkovitz today released his latest monthly Economic Report that indicated there were almost two unemployed Philadelphians per job opening available in the City for the latest employment reporting period.

In November, there were 63,800 estimated Philadelphians considered unemployed, whereas during the same month there were 32,934 advertised online job openings in the city. This represents an unemployed per job opening ratio of 1.94, or almost two individuals competing for every one job.

Philadelphia’s ratio ranks it 22 of the 67 counties in Pennsylvania for having the least number of unemployed per job opening. When compared to neighboring counties, Philadelphia ranks below Delaware(2.02) and Bucks(2.27) counties, but not as low as Montgomery(1.06) and Chester(1.24) counties.

Prior to the recession, there were 1.44 unemployed Philadelphians competing for every one job in November 2008. The rate was 7.15 in November 2009.

In addition to reviewing local jobs data, the Controller’s economic report showed that the latest monthly tax revenues for the City’s General Fund totaled $158 million, a four percent decline from December 2012. Monthly sales tax collections totaled $21 million, a four percent decline from what was collected last year, but yearly collections maintained a three percent increase over last 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.