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Friday, November 6, 2009
Philly Has Third Highest Unemployment Rate Among Big Cities

Just got this press release:

Philadelphia’s Unemployment Ranks Third
Controller compares City’s unemployment rate to nation’s 10 largest cities


PHILADELPHIA - City Controller Alan Butkovitz today released the monthly Economic Forecast and Snapshot that shows Philadelphia, the sixth largest U.S. city, ranks third highest in unemployment with 11 percent.

The September economic report includes the unemployment figures for the top 10 U.S. cities. Philadelphia’s unemployment rate falls behind Los Angeles and Chicago with 12.7 and 11.3, respectively. San Jose and New York City round out the top five for highest unemployment.

Philadelphia’s unemployment rate is 3.4 points higher compared to one year ago. It’s also 2.2 points higher than Pennsylvania’s current rate of 8.8 percent.

The report also indicates the region’s manufacturing executives expect business activity to increase over the next six months; however, expectations have moderated somewhat in the last several months.

The Economic Snapshot and Monthly Forecast are compiled by the Financial and Policy Analysis staff. The City Controller’s office circulates these documents on a monthly basis to assist key decision makers in understanding and anticipating local and national economic trends.

The Monthly Economic Snapshot presents key economic data for the United States, the Greater Philadelphia Region, and the City of Philadelphia. The Monthly Economic Forecast Review is a collection of projections from prominent economic institutions and an analysis of their forecasts of future economic performance. These two documents together — the Snapshot and the Forecast Review — are a useful tool for policy makers and analysts in understanding our city’s and country’s economy.

To view the Economic Forecast and Monthly Snapshot, please visit the City Controller’s Web site at www.philadelphiacontroller.org

Posted by Catherine Lucey @ 10:45 AM  Permalink | Post a comment
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About Chris Brennan and Catherine Lucey
PhillyClout
Chris Brennan, a native Philadelphian and graduate of Temple University, joined the Daily News in 1999. He has written about SEPTA, the Philadelphia School District, the legalization of casino gambling, state government, the mayor, the governor, City Council and political campaigns.

Catherine Lucey joined the Daily News in 2002. Since then she has written about murderous drug gangs, political protesters and Harry Potter. For the past two years, she covered the 2007 mayoral election. Now that the battle is over, she has moved down to the City Hall bureau where she will report on the Nutter administration.

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Catherine Lucey
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