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Philadelphia Business Journal - Mag says Phila. economy built to survive recession
Philadelphia is among the U.S. cities best prepared to weather a recession, according to a report in Business Week.
Regions with strong government, health-care, education, legal services and agriculture sectors are expected to suffer the least during a downturn. Regions with high concentrations of financial services jobs (New York, Chicago) and home foreclosures (Florida, California, Nevada) are expected to suffer the most.
Business Week noted Philadelphia’s strong health-care and education sectors, which employ 26 percent of workers. The area has also had low foreclosure rates, partly because home prices did not become overheated to the extent they did in Florida and California.
The magazine said its research was aided by PolicyMap.com, a property of Philadelphia-based The Reinvestment Fund.
http://philadelphia.bizjournals.com/philadelphia/stories/2008/10/13/daily34.html