Quarterly Philadelphia Labor Market Report
As part of our mission to develop and manage smart workforce solutions, Philadelphia Works conducts regular analysis on the state of Philadelphia’s labor market. This quarterly report offers insight into key measures of economic activity, providing leaders across public and private institutions an easy-to-access update on Philadelphia’s economy. In this edition, the Quarterly Labor Market Report discusses the changing nature of the COVID-19 economic recovery, highlighting continued improvements in hard-hit industry sectors.
Executive Summary
- Philadelphia’s labor market continues to experience the effects of the COVID-19 pandemic and economic crisis. By August 2021, employment of Philadelphia residents has seen virtually no improvements since 2020. More than 63,000 fewer Philadelphians were employed relative to February 2020.
- By industry, the Accommodation and Food Service sector has experienced the most significant impacts, losing more than 30,000 jobs since February 2020. However, since our last update in April, demand in this sector has increased dramatically, in some cases outpacing available workers. Because of this labor shortage, we see evidence nationally that employers in this sector are raising wages.
- Despite early losses among low-wage and low-skill employment, demand for high-skill workers remained strong throughout the pandemic. This was especially true in healthcare and information technology.
- Employer demand dipped in September 2021. Month-over-month job postings declined for the first time since November 2020.
- Beyond the current crisis, Philadelphia’s economy struggles with economic and racial injustice. By race and ethnicity, Philadelphians of color continue to experience disproportionately negative employment outcomes and have been disproportionately affected by the current crisis.
Expert
Matthew Hutton
Matthew is the Senior Research Analyst on the Data Performance and Labor Market Information Team, where he provides expert analysis of program and labor market data,...
Contact
Philadelphia Works
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Philaworks Quarterly LMI Report October 2021
October 19, 2021
Linked topic
Quarterly Philadelphia Labor Market Report
Philadelphia, PA, USA, July 14, 2021
As part of our mission to develop and manage smart workforce solutions, Philadelphia Works conducts regular analysis on the state of Philadelphia’s labor market. This quarterly report offers[...]
About Philadelphia Works
Philadelphia Works, Inc., the city’s workforce development board, is a non-profit, quasi-public organization serving employers and connecting career seekers to employment and training opportunities. We invest public resources in a variety of workforce solutions that drive economic growth, influence public workforce policies, and optimize funding and resources to build a skilled and thriving workforce. For more information please visit philaworks.org.
Our Mission: To develop and manage smart workforce solutions that respond to business needs and increase economic opportunity for all Philadelphia residents.
Our Vision: A thriving Philadelphia workforce, a stronger local economy.
