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City's employment recovery surpasses national average while downtown talent concentration reaches historic highs, new report finds.

Recovery is progressing by nearly all measures: employment, hotel occupancy, retail and restaurant sales, transit ridership, pedestrian volumes and city tax collections are all up. Job recovery is slow but steady and most significantly, Philadelphia’s unemployment rate fell in October, to the lowest point since 1990.

CCD released its 2024 real estate development report, highlighting the continued evolution of downtown Philadelphia.

This in-depth report looks at how this sector of the economy is accounted for in national data sources and the potential impact these workers may have on the Philadelphia economy.

After decades of economic contraction, Philadelphia has added jobs for nine straight years, an unbroken growth streak not seen since the boom years of World War II.

Philadelphia’s Rail Park, inspired by New York City’s High Line, is one of 19 projects included in the High Line Network – a group of infrastructure reuse projects across North America.

City and state officials, philanthropic organizations, cultural and business leaders, neighbors and civic groups joined CCD President and CEO Paul R. Levy and members of the public for a ribbon cutting ceremony to celebrate the official opening of Phase 1 of the Rail Park.