Despite having a diverse economy, Philadelphia has recovered only 55% of its lost jobs from the nadir of the pandemic. Its net decline of 6.5% from the previous peak of Q1 2020 ranks 33rd of the largest 51 metros and below the US net decline of 5.6%. Philadelphia is expected to see job growth of 3.6% in 2021, 4.2% in 2022, and is expected to recover all of its lost jobs in Q3 2022. Its expected average annual job growth of 0.3% in 2023 to 2025 ranks 42nd of 51 metros. In addition to leisure and hospitality, Philadelphia’s large education and health services sector is expected to contribute much of this job growth.
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