We have lost jobs in the city since the recession began in earnest in August 2008, but
Housing prices have dipped by seven percent, according to the latest figures by uber-real estate analyst Kevin Gillen. But compare and contrast that to other cities, such as
The unemployment rate is still higher than the national average (by about 2 points), but certain sectors in town have weathered the recession well: Eds & Meds and tourism are two sectors where the number of employees have increased, even in the teeth of the economic storm.
In Center City - defined as river to river, Washington to Girard Avenue - housing sales are showing sign of recovery, according to Paul Levy, head of the Center City District.
In an analysis released last week, the CDC showed that home sales have increased 24 percent so far this year, compared to 2009; and the time for-sale homes remain on the market has slipped as well.
As Levy put it: "The less bad is the new good."
So, using that (oddly shaped) yardstick,
That is different than the past. In previous years,
But, these were in the days when manufacturing was the backbone of the
The largest sector is Eds & Meds, with 207,000 jobs - 32 percent of the total.
Another way to look at it is that the loss of manufacturing jobs in a recession cannot hurt us because there's simply not enough jobs left in that sector.
Whenever Levy holds a news conference, as he did last week to release new figures on jobs and development in
He usually comes armed with convincing numbers.
That gravitational pull has been changing the neighborhoods adjacent to
There is the old
None of this is to say that the recession did not - and continues to - cause pain, among the poor, among the unemployed, among a sizeable portion of city residents. Overall, though, it is less pain that previous downturns caused. To filch Levy's line, less pain is the new healthy.