PHILADELPHIA’S UNEMPLOYMENT RATE DROPS TO 6.5%

Philadelphia, June 4, 2015 – According to preliminary data released today by the U.S. Bureau of Labor Statistics the unemployment rate in Philadelphia declined to 6.5% for April 2015, down from 7.1% in March 2015 and 7.5% for April 2014.  In addition, the number of jobs in Philadelphia increased by 4,300 from March to April to 687,100, the highest number for April since 2001 and 10,900 more jobs than April 2014.  By comparison the number of jobs in Philadelphia in January 2008 was 652,100, 35,000 fewer jobs than today.

 

“Philadelphia is on the rise and our Administration is focused on ensuring that all Philadelphians share in this prosperity,” said Mayor Michael A. Nutter.  “There are more Philadelphians working today than at any point for almost 25 years, and Philadelphia has recovered from the recession faster than the country as a whole.  We are strengthening our efforts to support business growth and attract new companies to a city that is gaining an unprecedented level of attention.”

 

Other highlights from the recent BLS data include:

 

  • The number of Philadelphians employed increased by 6,795 to 643,557.  Highest number since December 1990.
  • The number of Philadelphians unemployed decreased by 3,841 to 44,690 and the size of the labor force grew by 2,954.
  • State and National unemployment rates continue to hover 20% above their 2007 levels, while Philadelphia’s unemployment rate in April is lower than it was in January 2007.  Philadelphia has returned to its pre-recession level of unemployment faster than the state or the nation as a whole.

 

“The latest employment data is very encouraging and is a reflection of a city that is growing and thriving,” said Alan Greenberger, Deputy Mayor for Economic Development.  “By supporting the growth of existing businesses through programs such as 10,000 Small Businesses and Kiva City Philadelphia, attracting new companies, and undertaking major new developments such as the $350 million renovation of the Gallery, we are working every day to create new jobs and economic opportunities for all Philadelphians.”

Posted in Mayor's Press Releases, Press Release
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