Certain U.S. cities have emerged as beacons of prosperity and growth as the nation continues to navigate the complexities of a post-pandemic world, writes Andreea Neculae for CoworkingCafe.
Philadelphia is one of those cities, as it has ranked as the 8th best large U.S. city for economic growth.
CoworkingCafe recently published a new study highlighting the top U.S. cities fostering economic growth. Among the metrics used include population growth, GDP, employment rates, trade activity, and more.
Philly’s ranking can be credited to the city’s job growth and the surge in new housing. The number of buzzing opportunities has attracted a vibrant mix of businesses and residents.
The city ranked first among more than 30 large U.S. cities analyzed for the highest growth in employment between 2018 and 2022, at 3 percent.
In addition, Philly’s unemployment rate dropped by 1.6 percent during the same period, while the median earnings saw a 27 percent increase.
Philly has seen 7 percent growth in housing units, registering a total of 730,630 in 2022.
The study is divided into three sections: small cities with populations under 250,000; mid-sized cities between 250,000 and 500,000; and large cities of over 500,000.
Read about Philadelphia’s economic prosperity ranking and more about America’s most prominent economic powerhouses in CoWorkingCafe.
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