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EconomicReport_January2015.pdf
Preview of Download Full Report
🔗 Source: controller.phila.gov
📊 Size: 1.81 MB
📄 Pages: 3 pages
⬇️ Downloads: 74

Summary

According to PICA, collections for a single month can be a misleading indicator due to monthly variability in collections. Tax revenues for January totaled over $260 million, a 1.4 percent decrease compared to last January. Wage/Earnings/NPT collections for the month totaled $162.4 million, a six percent increase over the same month last year. Monthly sales tax collections for January totaled $11.3 million, a 45 percent decrease compared to last January. Philadelphia's unemployment rate is 6.2 percent, down two-tenths from the previous month. Yearly Wage/NPT/Earnings revenues increased by 3.0 percent over FY14. Monthly home sales increased by 3.5 percent compared to last January. The Neighborhood Spotlight focuses on three neighborhoods in the Lower Northeast section of the city, where healthcare and social assistance has been the primary employment type, and manufacturing has dropped from second to fourth. The number of people employed in these neighborhoods has decreased by more than 2,000, leading to an increase of outflow to other parts of the city for work.

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Description

According to PICA, collections for a single month can be a misleading indicator due to monthly variability in collections.

Technical Information

  • File Format: PDF
  • File Size: 1.81 MB
  • Pages: 3
  • Language: EN
  • Total Downloads: 74
  • Last Updated: 1 month ago

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