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unemployment: Employment Picture Better than Expected - 09/03/10 01:35 PM
If you've been reading my blog you know I expect the real estate markets to start recovering once the job market starts consistently growing. Well the national news today was a bit better than expected with reports of 67,000 private sector jobs being added in August. The June and July employment numbers were also revised upwards, another reason for a bit of optimism. While a positive surprise is nice (analysts expected only 41,000 new jobs in August), the economy still needs to more than double this monthly job growth figure if we want to really reverse the damage of the 'Great … (1 comments)
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unemployment: Philly Employment Picture Improves - 02/03/10 03:31 PM
If you follow my blog, or any other real estate or business related blog for that matter, you probably have picked up on the fact that everyone is waiting to see when job creation will return to the economy. Well at least in Philadelphia it seems like we're already headed in the right direction. According to this article in the Philadelphia Business Journal Philly's unemployment rate dropped from 11.1% in October to 10.6% in November. That's still a bit higher than the national average, but we're showing good momentum, and my gut feeling is that we added just as many jobs … (0 comments)
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unemployment: Jobs Will Return to Philly...Slowly - 01/04/10 03:45 PM
According to this article in the Philadelphia Business Journal the Philadelphia region should see a lower unemployment rate over the course of 2010, but job gains will be slow. Drivers of job growth are expected to be the health-care and education sectors as well as the two new casinos that are set to open in Philadelphia this year (don't hold your breath for that one, there are still plenty of people working to make sure Philadelphia never sees a single slot machine on the Delaware).
With Philadelphia's unemployment rate at 11.1% for October and expected to tick slightly higher in the … (0 comments)
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unemployment: Two Pieces of Good Economic News - 12/18/09 03:35 PM
Philadelphia got an early Christmas present with the release of two pieces of good economic data this week. First off the Pennsylvania unemployment rate for November dropped 0.4% to 8.5% - a full 1.5% below the national average. While the state-wide job count continued to decline, jobs were created in the construction and education and health services sectors. The other good news came from the Philadelphia Federal Reserve which reported the fifth consecutive month of positive manufacturing conditions for the region.
A final piece of good news this holiday season is that Philadelphia International Airport opened it's new free parking lot … (0 comments)
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unemployment: When 10% Unemployment is Good News - 12/07/09 10:27 AM
A few years ago news of 10% unemployment would have been dire news. Oh how times have changed... When the latest unemployment figures were released on Friday the drop from 10.2% in October to 10% in November was hailed by many as a sign that we may really be at the bottom of this recession and starting on the long, hard climb back to strong economic growth. While the report still shows a net 11,000 job losses in November, that's far below past months and was a big surprise to economists who expected 130,000 lost jobs. Not only did the percentage … (1 comments)
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unemployment: Pennsylvania Economy Hanging in There - 06/23/09 09:29 AM
According to the Philadelphia Business Journal Pennsylvania's unemployment rate climbed from 7.8% in April to 8.2% in May - an uncomfortably high number to be sure, but significantly below the national average unemployment rate of 9.4%. Another way to look at it is in the year from May 2008 to May 2009 the number of jobs in Pennsylvania shrank by 3.2% compared to 3.9% nationally. One bright spot for Philadelphia is that the healthcare and education sectors, major anchors in Philadelphia's economy, are doing very well relative to other sectors of the economy.
An often-discussed benefit of rising unemployment is an … (2 comments)
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James Yoakum, SFR
Philadelphia,
PA
More about me…
Brown McKinney Real Estate Company
Address: 1733 Spring Garden Street, Philadelphia, PA, 19130
Office Phone: (215) 825-2250 x 1002
Cell Phone: (267) 496-7739
Email Me
Observations from my work in the wide world of real estate with a frequent focus on the Philadelphia market.
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