Description
Philadelphia’s Economy by the Numbers: Growth, Jobs & Employers
Philadelphia’s workforce is built on a mix of government, healthcare, education, and transportation institutions. While education and healthcare “Eds & Meds” make up a large share of the city’s economy, government and transportation remain major contributors. From 2015 to 2025, Philadelphia’s largest employers show relatively stable industry representation, but the rise of universities and hospitals highlights a notable shift toward “Eds & Meds” as the city’s dominant employment sector.
Eds & Meds: The University of Pennsylvania (Trustees of the University of PA) and Thomas Jefferson University are among the city’s largest employers, alongside leading hospitals such as the Children’s Hospital of Philadelphia and Temple University Hospital. Together, these institutions reflect the continued dominance of higher education and healthcare in Philadelphia’s workforce.
Government: The Federal Government, the City of Philadelphia, and the Philadelphia School District remain major sources of employment, providing tens of thousands of stable jobs that support residents across the city.
Transportation: SEPTA continues to be a significant employer, and airlines such as American Airlines also play a role in the city’s workforce.
Alongside these large anchor institutions, small businesses, defined as those with 99 or less employees are essential to Philadelphia’s economic growth. In 2023, there were 29,460 small businesses in the city that employ a large share of the city’s workforce and contribute to vibrant neighborhoods. This marked a 7.5% increase over the last decade.
While Philadelphia’s population remained steady at about 1.57 million over the past decade, residents experienced meaningful economic gains, with median income increasing from $39,043 in 2014 to $60,521 in 2024 and unemployment falling from 8.2% to 4.5% over the same period in 2024.
Each month Controller Brady looks forward to bringing transparency and accountability of our city, right to you.