Wednesday, November 25, 2015

Phila. employment won't return to pre-recession levels until mid-2014

The trend detected by the leading indicators tracked by Select Greater Philadelphia and IHS Global Insight shows the region lagging the United States as a whole.

Phila. employment won't return to pre-recession levels until mid-2014


The latest quarterly reading of Select Greater Philadelphia's leading economic indicators point to mid-2014 as the earliest point when employment in the region will return to its pre-recession level.

The Greater Philadelphia Leading Index is an effort by the organization that tries to attract new employers to the region to forecast where the local economy is headed six months from now.

The trend over the last 12 months has been one of gradual growth followed by gradual decline. The 12-month moving average peaked in February and declined each month through June, the most recent data available.

In a statement, the organization said the trend indicates that the region's rate of economic growth will "decline somewhat" over the next several quarters.

Select Greater Philadelphia and IHS Global Insight, which provided data analysis for the quarterly report, also said the trends confirm that the "U.S. economy continues to recover more quickly than the region's."

Looking at the year-over-year change in employment in the Philadelphia and Trenton metropolitan statistical areas, the organizations said the employment growth rate of the two regions has remained below that of the U.S. as a whole since September 2010.

Here's a link to the latest figures for the leading index on Select Greater Philadelphia's website.

Inquirer Columnist
We encourage respectful comments but reserve the right to delete anything that doesn't contribute to an engaging dialogue.
Help us moderate this thread by flagging comments that violate our guidelines.

Comment policy: comments are intended to be civil, friendly conversations. Please treat other participants with respect and in a way that you would want to be treated. You are responsible for what you say. And please, stay on topic. If you see an objectionable post, please report it to us using the "Report Abuse" option.

Please note that comments are monitored by staff. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable. Personal attacks, especially on other participants, are not permitted. We reserve the right to permanently block any user who violates these terms and conditions.

Additionally comments that are long, have multiple paragraph breaks, include code, or include hyperlinks may not be posted.

Read 0 comments
comments powered by Disqus
About this blog
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at

Mike Armstrong Inquirer Columnist
Also on
letter icon Newsletter