The Economy of Philadelphia, Pennsylvania.

University of ---------

Technology Extended Campus

Research project undertaken in partial fulfillment of the requirements for the

MSc Degree in -----------------

Economic Effects of Unemployment in Philadelphia

By

-----------------

Supervisor : ----------------

Project unit : --------------

December 2007 Plagiarism Declaration

I confirm that the enclosed written work on Economic Effects of Unemployment in Philadelphia , is entirely my own except where explicitly stated otherwise . I declare that wherever I used copying , paraphrasing , summarizations or other appropriate mechanism related to the use of another author 's work it has

been properly acknowledged in accordance with normal scholarly conventions . I understand that wherever 6 or more consecutive words are extracted from a source they must be acknowledged and 10 consecutive words that are unacknowledged will be regarded as proof of plagiarism

Signed __________________________________ Date ___________

Acknowledgments

Special thanks and gratitude is given to ---- who helped me with his valuable guidance . My thanks will be extended also to my family including Dad , Mom and ----- , my youngest brother for their kind and invaluable support during the whole project

Introduction

According the most recent reports , the city of Philadelphia has been named as one of the poorest cities of the nation and there is an urgent need to acknowledge the growing unemployment and economic crisis that is being faced by the city . The challenge that the city is facing gets more acknowledgement due to its nearness to other wealthy and prosperous suburbs . In the year 2005 , the city 's population was 73 ,305 , which was a an alarming 45 of the County

There have been many pointers that have been used up lately to measure the unemployment rate in Philadelphia which is a significant indicator of the economy . At times , the experts see the unemployment rate as straightforward , but at this point it is important to take note that this figure does not constitute the people who are currently unemployed or under-employed

Especially , Philadelphia has been showing high unemployment rates since the last decade and it has lacked the required level of growth at the state and the national levels also . As a clear indicator , the gap that existed between the U .S . unemployment and the Philadelphia county rate widened and increased from 2 to 3 .6 in 2004 . These figures show that Philadelphia has been very badly affected with the economic downturns of the U .S . economy . Also the basic fundamental structure of the city that creates job has been found to be very weak , thereby resulting in more of unemployment

The causes of unemployment in Philadelphia are straight forwardly associated to the shape of the economy . With time as the economic conditions depreciated , the industries and the employers were required to economize and cut back a number of jobs and downsized the salaries as well . Technology was one of the main sources of income for the people of Philadelphia and lately this sector has been very hardly hit all across the United States , thereby further weakening the already fragile economy of Philadelphia

Definitely...