Philadelphia economic news

Federal stimulus measures, such as the payroll protection program, are believed to keep delinquency rates, or the percentage of companies delinquent in claims, lower than expected in , Ginsburg said.

Another surprise is that beyond the pandemic, the total number of companies has increased by a very modest 1. The dashboard also tracks personal consumption. This story originally appeared WHYY. Answers in two time intervals are expected: evaluation of the last month and a forecast for the next six months. Positive index readings indicate that employment has increased on the average across the region.

Values below zero indicate weakening of employment in the manufacturing segment of the economy. Analysts often pay attention to this index component, since the labor market activity is one of the leading factors of the US inflation. Employment growth suggests an increase in consumption, which is a favorable factor for the development of the economy. Manufacturing sector in the region creates most of the jobs, so employment in this sector is a representative indicator of the overall situation.

Dynamics of the Philadelphia Fed Employment index can cause insignificant volatility of dollar quotes. A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. Create your own calendar of economic events. Reviews for Philadelphia Reviews. Read More. Agree 61 Disagree Will charge you fees, anything - to pay for the mess that they made.

Life long resident, born here as well. I'm Very sorry to say. Agree Disagree I feel like if everyone was giving it 5 stars the Try Now. All rights reserved. BestPlaces Mobile App. Unemployment Rate. Manufacturing is happening in a diverse set of industries across the region, ranging from massive pharmaceutical companies to small, person outfits, Zellers said.

Transitioning from a job in retail or food service might be jarring, but the jobs are there, he added. Logistics and distribution are also continuing to take hold in the region. High-quality jobs are coming from that sector, and the Philadelphia Industrial Development Corp.