Phila.'s economic schizophrenia

Publication: Philadelphia Inquirer

Author: Patrick Kerkstra


09/21/2012 - What to make of this week's dueling economic headlines?

Somehow, Philadelphia is growing both more impoverished and more competitive.

The Pew Philadelphia Research Initiative is out with a new study revealing that the suburbs, not the city, have raised residential taxes most rapidly over the last decade. Philadelphia hasn't achieved tax parity - not by a long shot - but the Pew report suggests strongly the city is moving in the right direction.

Encouraging.

And yet the Inquirer's Alfred Lubrano reports that Philadelphia's poverty rate jumped 6.4 percent in a year, solidifying Philadelphia's status as one of the nation's poorest big cities. Citywide, the poverty rate stands at 28.4 percent. Forty percent of the city's children live in poverty. And in some North Philadelphia zip codes, the poverty rate tops 50 percent.

Alarming.

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Read the full article, Phila.'s economic schizophrenia, on the Philly.com website.

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