Job index falls in Philadelphia

Posted: August 01, 2007

Philadelphia's job market soured in July, according to an employment survey released today.

The Hudson Employment Index for Philadelphia fell to 94.1 last month from 99.2 in June and 99.3 last July. It was the third straight monthly decline for Philadelphia.

Hudson Highland Group Inc., which produces the survey, said all factors contributing to worker confidence played a role in last month's decline. The number of workers forecasting hiring at their company fell, as did the share of workers rating their finances as excellent. Also, the number of workers who said they were happy in their jobs declined, while the number concerned about job security rose.

The July reading here was among the weakest of the 11 U.S. cities surveyed. Chicago was the weakest, at 85.5, while Dallas was highest at 120.7.

The national index, based on responses from 9,000 workers nationwide, rose 4.6 points to 105.8 in July.

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