July 2017 Economic Report

Tax Revenues

Tax revenues (City & PICA portions) for July totaled $279.8 million, marking a 31 percent increase compared to last July. A breakdown of the total revenues included $237.8 million into the General Fund and $42 million as the PICA portion.

Home Sales

Home sales in neighborhoods across South Philadelphia continue to lead the city for most sales and accounted for almost 20 percent of July’s total sales.  The 19146 topped the list with 92 sales, with 19147, 19145 and 19148 finding a spot within the top five highest-selling areas.

Latest Employment

The non-seasonally adjusted unemployment rate for the City of Philadelphia increased by half a percentage point from June to July. The latest reported non-seasonally adjusted rate is at 6.9 percent, seven-tenths lower over last July.

Philadelphia’s Civilian Labor Force increased from 715,100 to 716,700 and the number of unemployed decreased from 54,300 to 49,100 over last July

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