ABOUT PHILADELPHIA’S LABOR MARKET IN SEPTEMBER 2017
FAST FACTS ABOUT PHILADELPHIA’S LABOR MARKET IN OCTOBER 2017
Philadelphia city experienced a slight increase in employment to 668,817 – an increase of over 4,044 more employed. The unemployment rate in October 2017 is at 5.6 percent. Over 39,000 individuals were unemployed in Philadelphia in October 2017.
Unemployment Rate: The unemployment rate in October 2017 was 5.6 percent. The unemployment rate decreased by 1.2 percent over the year.
Unemployment: Just fewer than 40,000 individuals were unemployed. The number of unemployed individuals decreased compared to a month earlier and decreased by 8,420 workers compared to a year earlier — October 2016.
Employment: More than 668,000 residents were working in October 2017. The number of employed individuals increased from the previous month, 2,938 more workers were employed compared to a year earlier – October 2016.
Labor Force: The labor force is experiencing a slow growth compared to previous month. Over 705,000 individuals were in labor force in October 2017. 1894 more workers participated to the previous month and 5,482 decreased compared to the previous year.
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. In October, the unemployment rate was 7 percent as the number of residents employed kept pace the growth in labor market participation. Employment also increased in October 2016 and reached an all-time high for the city.
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 2,500 postings in each group. Compared to September 2015, the volume of postings fell in these top occupational families except for Healthcare Practitioners. Highest decreases were in Sales and Related Occupations (20.9 per) and Computer and Mathematical occupations (15.1 percent).