The new year is bringing good news for the city of Philadelphia. According to the U.S. Bureau of Labor Statistics, the unemployment rate in Philly dropped to 9.5 percent in November of 2013, the lowest unemployment rate since May of 2009. BLS also reports that the number of jobs in Philly is at its highest level since November of 2008.
“The latest data from the Bureau of Labor Statistics points to a city economy that continues to grow after the devastation of the Great Recession. We see it in new construction all over the city, the arrival of new businesses in Philadelphia, and the expansion of existing companies,” said Mayor Nutter. “While the indications are positive, we need to keep this modest improvement in context. There are still far too many unemployed people in this city, especially in the minority communities and among younger Philadelphians, and my Administration remains committed to job creation, workforce development, and expanding opportunities for all people in this city.”
Nutter also urged Congress to extend unemployment benefits which he believes would “help thousands of people in the Philadelphia region.”
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“We in Philadelphia need to focus on our tax policies in order to drive increased economic development; we need to invest in workforce development to assist those who want to enter the labor force or to change careers; and at the city and state levels, we need to invest in educating our children,” he said.
Several Philadelphia-based companies, including Urban Outfitters, Beneficial Bank and FMC announced expansion in 2013. Nutter plans to announce new business expansions and companies in Philadelphia later this year.