Philadelphia has outpaced other major cities in job growth in recent years, but industries that drive office leasing are not seeing the same gains, writes Ariana Perez-Castells for The Philadelphia Inquirer.
The Center City District’s new report analyzed 15 years of data on office leasing, vacancies, job growth, and the talent pipeline in Philadelphia and nearby counties. The findings show that most regional job growth are in healthcare and other sectors where employees primarily work outside office settings.
Office-focused industry sectors, such as finance, insurance, and real estate, have remained largely stagnant in recent years.
Analyzing job growth, office leasing, and vacancies in recent years offers insight into the progress the Philadelphia region has made since the Great Recession, said CCD vice president of economic development Clint Randall.
“So much of the discussion around the economy post-pandemic has been focused very specifically on who’s coming back to the office – recovery vs. some sort of pre-pandemic normal,” he added. “We just felt like it was time to zoom out a little bit and try to gain some perspective.”
In addition to healthcare, which saw 44 percent employment growth between 2009 and 2024, arts and entertainment, food, and hospitality also saw significant job growth.
Read more about Philly’s job growth in recent years in The Philadelphia Inquirer.
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