Retail

Does Philadelphia have what it takes to recover? This Center City District/Central Philadelphia Development Corporation report examines Philadelphia’s signs of recovery, and remaining challenges, after two years of profound disruption.

With the installation of 14 cameras that measure pedestrian volumes 24 hours a day, the CCD now provides retailers, brokers, and developers with detailed counts and analyses of hourly trends.

Philadelphia continues its slow, steady though uneven recovery. By April, payroll employment citywide rose to 95.6% of February 2020 levels, compared to 99.2% in the nation. The lagging pace reflects the slow rebound in leisure and hospitality employment and the ripple effects of remote work on those jobs that rely on the presence of other workers. Still, the unemployment rate continues to decline and the volume of office workers in Center City continues to rise.