Philadelphia Metro Job Loss (Jersey Shore, Atlantic: 2015, employment, casinos)

[thedirtypirate]

Figured I would share this here.. Grim news in terms of overall employment within the region

Metropolitan Area Employment and Unemployment Summary

The largest over-the-year decreases in employment occurred in Atlantic City-Hammonton,
N.J. (-8,600), and Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md. (-4,800). The
largest over-the-year percentage decreases in employment occurred in Atlantic City-
Hammonton, N.J. (-6.4 percent), Ocean City, N.J. (-3.9 percent), and Steubenville-
Weirton, Ohio-W.Va. (-2.9 percent).

Sucks but that's us. In terms of overall development it felt like 2014 was such a positive year, but possibly not? Was wondering what other people thought?

[kidphilly]

The AC numbers are likely due to the casino closures - for the Philly area less people seeking employment. Would need to dig into it more but overall not so strong and a decrease is generally a bad thing

Lets hope 2015 is better in this regard

[Duderino]

Obviously not good numbers year over year, and definitely suggests that the Philly area is still going through some economic restructuring (e.g., consolidation of banks and pharmaceutical industries, as well as a continued loss in local government), but I think there is light at the end of the tunnel.

The US economy is finally growing now like it hasn't in about a decade, which will inevitably begin to have a more pronounced effect on regions like the Philly area that have still been somewhat stagnant since the end of the recession. Also, the region definitely has the potential to overcome a 16,000 year over year deficit pretty easily, particularly due to a very diverse industry mix.

So, it's taken more time than usual for the Philly area to get traction compared to many areas, but time is on its side.

[BPP1999]

I was hoping someone would post this; thanks. I was surprised to see this report when it came out. Hopefully this year is a blip due to one or two unique circumstances.

[pman]

Interestingly the city is seeing employment levels not seen since the 1990s (it had previously not recovered from the 2001 recession). There is definitely restructuring and the 202 corridor has been hit hard

[FromGA]

Oct 13 and 14. // Nov 13 and 14
2,775.2 2,782.7 // 2,795.7 2,790.9
Seems like that Oct 2014 is higher than Oct 2013, and Nov 2014 is higher than Oct 2014.
I am not very good with understanding tables of data, so please confirm if I am right.

Probably some huge (or temporary) increase or error in Nov 2013 occured.

Not saying everything is perfect, but there may be less to the story???

[kyb01]

Originally Posted by thedirtypirate

Figured I would share this here.. Grim news in terms of overall employment within the region

Metropolitan Area Employment and Unemployment Summary



Sucks but that's us. In terms of overall development it felt like 2014 was such a positive year, but possibly not? Was wondering what other people thought?

Since when does the AC employment problem have anything to do with us meaning the PHL metro area since it does not contain any NJ shore counties no matter how it "feels" emotionally?

But, agreed, those numbers are not good at all.

[gwillyfromphilly]

Originally Posted by kyb01

Since when does the AC employment problem have anything to do with us meaning the PHL metro area since it does not contain any NJ shore counties no matter how it "feels" emotionally?

Actually it does and what happens in the Philly area affects the Jersey Shore as well. The casinos that were built in Southeastern PA and Delaware has a direct affect on the Atlantic City Casino economy. That's one of the main reasons why some of the casinos in Atlantic City closed down recently. Overall the Philadelphia-Trenton-Wilmington area needs to improve when it comes to job growth.

[southbound_295]

Originally Posted by kyb01

Since when does the AC employment problem have anything to do with us meaning the PHL metro area since it does not contain any NJ shore counties no matter how it "feels" emotionally?

But, agreed, those numbers are not good at all.

I think that Atlantic County is now in the metro. There have been people commuting to the AC casinos from Camden & Gloucester counties for decades. They would show up in the metro statistics, regardless.

[pman]

Ac is no longer independent, the majority of people now commute into the philadelphia metro for work