Philly Unemployment Rate Dropping - NBC 10 Philadelphia

Philly Unemployment Rate Dropping



    Philly Unemployment Rate Dropping

    The unemployment rate in Philadelphia continues to drop, according to preliminary data released by the U.S. Bureau of Labor Statistics.

    On Tuesday the City announced that the unemployment rate in Philadelphia declined from 8.3% in February to 8% in March based on the new data.

    Officials also say that 4,000 more jobs were added to the city’s economy in March, bringing the number of jobs in Philly to its highest level for a March month since 2003.

    “Today, as we fight our way back from the recession, companies all across Philadelphia are hiring new people, winning new business, and growing in our city, and my Administration is committed to doing all we can to support that success,” said Mayor Michael A. Nutter.  “On Saturday, for example, I met with the latest graduates of the Goldman Sachs 10,000 Small Businesses Program who, because of this program, are transforming their companies and putting more Philadelphians to work.  These business owners, like so many others across our city, are investing in Philadelphia and are the reason why this city is on the right path.”

    The data also revealed that the number of employed Philadelphians is at its highest for a March month since 2001 while the number of unemployed residents is at its lowest since December of 2008. The unemployment rate of 8% in March, 2014 is also 2.1% lower than it was in March of 2013.

    You can view all the new employment data here.