City Unemployment Rate Dips
After realizing six consecutive months of increases, Philadelphia’s unemployment rate dropped by half a percentage point from the previous recording month, putting the overall figure at 10.6%.
The data were released by City Controller Alan Butkovitz in his Monthly Economic Snapshot and Forecast. It is only the second time in the last 14 months that the City’s unemployment rate declined from the previous month.
Pennsylvania’s seasonally-adjusted unemployment rate rose to 8.9% in December, up four-tenths of a percentage point from November, but still below the national rate of 10%.
Philadelphia’s December unemployment rate is not yet available because local statistics are a month behind national data.
The Economic Snapshot and Monthly Forecast are compiled by the Financial & 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.
