The manufacturing industry in the Philadelphia area is on the rise, and with new orders, increased shipments and overall demand, Philadelphia is experiencing a progressive change in the manufacturing industry, creating optimism for job growth. The last three months alone have seen nothing but positive numbers, well above those of previous months.
According to a report from Kappa Search Inc. the Philadelphia Federal Index rated the industry at 22.3, which indicates an increasing demand for products. The positive takeaway – jobs. The Business Outlook Survey also reported positive numbers, including employment, with optimistic increase over the next six months for job growth.
The manufacturing industry is steadily improving for Philadelphia, with at least 58 percent of firms reporting increased job opportunities, up seven points from April of last year, according the survey. With companies like Subaru possibly moving headquarters to Philadelphia, it’s no wonder that job growth is improving. Subaru’s big move could provide the region with some 900 jobs, according to philly.com. The automobile industry is seeing improved numbers from previous years overall, which is good news for Philadelphia residents.
If manufacturing isn’t for you, the education and medical industries are also projecting higher numbers in comparison to last year, and even earlier this year.
According to the Philadelphia 100, pharmaceutical companies and other health services companies dominated the list. Among them were education facilities and technology-based companies, all making the list for the top 100 fastest growing companies in Philadelphia. The City of Brotherly Love is surely getting some attention for its high marks in these sectors.
Michelle Perez is a freelance writer staying on the pulse of all that’s new and exciting. Her work can be found on Examiner.com.