You Searched
Our year-end 2024 Center City Retail Report pulls together the latest data on retail occupancy, demand, and leasing activity and explores emerging trends and opportunities that will shape Center City’s retail landscape in the coming years.
After decades of job loss, Philadelphia has enjoyed nine straight years of job growth that accelerated in 2014. Despite the recent upturn however, the city has rebounded more slowly than most peer cities.
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.
At the start of 2020, before the pandemic upended daily life and shook every aspect of the city’s economy, Philadelphia was in its 11th straight year of growth. Now, as vaccination rates rise and vitality is steadily returning to the downtown and neighborhoods throughout Philadelphia, the CCD and CPDC are releasing a pair of reports which look at the past year’s challenges and track multiple indicators of recovery.
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.