ABOUT PHILADELPHIA’S LABOR MARKET IN JANUARY 2018
FAST FACTS ABOUT PHILADELPHIA’S LABOR MARKET IN JANUARY 2018
Philadelphia city experienced a slight decrease in employment to 655,367–a decline of 7,234 fewer employed from the previous month. The unemployment rate in January 2018 was 6.3 percent. Over 40,000 individuals were unemployed in Philadelphia in January 2018.
Unemployment Rate: The unemployment rate in January 2018 was 6.3 percent. The unemployment rate increased by 0.2 percent over the year.
Unemployment: Just over 40,000 individuals were unemployed. The number of unemployed individuals increased compared to a month earlier by 4,842 and increased by 1,181 workers compared to a year earlier, January 2017
Employment: More than 655,000 residents were working in January 2018. The number of employed individuals decreased from the previous month by 7,234. 6,007 less workers were employed compared to a year earlier – January 2017.
Labor Force: The labor force showed a decline of over 2,000 workers compared to the previous month. Over 690,000 individuals were in labor force in January 2018. 2,392 more workers participated to the previous month and 4,826 workers participated a year earlier.
The charts below show the percentage changes in the employment, labor force, and unemployment since January 2012 – the year when unemployment reached its peak after the Great Recession. In February 2016 employment across the nation has returned to the pre-recession levels. Philadelphia County experienced a different recession story – Philadelphia had decreases in employment later compared to the nation and Pennsylvania and the decreases were not as deep locally as statewide or nationally. Philadelphia returned to the pre-recession employment levels in January 2010.
Computer and Mathematical; Management; Healthcare Practitioners; Sales and Related; Business and Financial Operations; and Office and Administrative Support occupations were the most advertised occupational families with over 2500 postings in each group. Highest decreases were in Sales and Related Occupations (8.7 per) and Healthcare Practitioners (32.7 percent).