CBS Philly: Pew Study Finds Philadelphia’s Recovery From Recession About Average
A new study finds Philadelphia in the middle of the pack in terms of how quickly major U.S. cities have recovered from the recession.
The research arm of the Pew Charitable Trusts examined how 30 American cities including Philadelphia managed to get through the recession and where they stand now. Those cities, according to project director Larry Eichel, got hit late and recovered late.
“Big city governments were hit late by the recession primarily due to their reliance on property taxes. There was a time lag there. They were hit late and they’ve recovered slowly, and they’re still suffering from some of the effects of the decline.”
Read the full article at philadelphia.cbslocal.com.
- American Cities Project