Economy Philadelphia

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philadelphia center of economic activity in pennsylvania headquarters of 5 fortune 1000 companies located within city limits. according bureau of economic analysis, philadelphia area had total gross domestic product of $431 billion in 2016, eighth-largest metropolitan economy in united states. philadelphia rated gawc beta city in 2016 ranking of world cities.


philadelphia s economic sectors include financial services, health care, biotechnology, information technology, manufacturing, oil refining, food processing, , tourism. financial activities account largest economic sector of metropolitan area, 1 of largest health education , research centers in united states.



philadelphia stock exchange, oldest stock exchange in united states


the city home philadelphia stock exchange , of area s largest companies including cable television , internet provider comcast, insurance companies cigna, colonial penn, , independence blue cross, energy company sunoco, food services company aramark, packaging company crown holdings, chemical makers fmc , rohm , haas, pharmaceutical company glaxosmithkline, boeing rotorcraft systems, apparel retailer urban outfitters, , automotive parts retailer pep boys.


philadelphia s annualized unemployment rate 7.8% in 2014, down 10% previous year. higher national average of 6.2%. similarly, rate of new jobs added city s economy lagged behind national job growth. in 2014, 8,800 jobs added city s economy. sectors largest number of jobs added in education , health care, leisure , hospitality, , professional , business services. declines seen in city s manufacturing , government sectors.


about 31.9% of city s population not in labor force in 2015, second highest percentage after detroit. city s 2 largest employers federal , city governments. philadelphia s largest private employer university of pennsylvania followed children s hospital of philadelphia. study commissioned city s government in 2011 projected 40,000 jobs added city within 25 years, raising number of jobs 675,000 in 2010 estimated 715,000 2035.


philadelphia s history attracts many tourists, independence national historical park (which includes liberty bell, independence hall, , other historic sites) receiving on 3.6 million visitors in 2014. greater philadelphia region visited 39 million people in 2013 generating $10 billion in economic impact.








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