At the Greater Reading Chamber Alliance (GRCA), we are dedicated to fostering data-driven decision-making that benefits both individuals and businesses in our community. We are pleased to present the Berks County Economic Intelligence Report for Q3 2024 produced for GRCA by the Lancaster EDC Center for Regional Analysis. The report offers insights into trends shaping our local economy, including labor market dynamics, consumer spending and regional economic growth.
Highlights include:
- Berks County’s unemployment rate reached a record low of 3.1% in September, nearly a full percentage point below the national average. Despite this, businesses continue to face hiring challenges, with over two job postings for every unemployed person in the region.
- Pennsylvania’s GDP saw robust growth, rebounding by 3.2% in Q2 and contributing to positive momentum in Q3. Local businesses reported stronger production and sales compared to earlier in the year.
- National consumer spending grew by 0.9% in Q3, with Berks County households maintaining a relatively low debt-to-income ratio compared to pre-pandemic levels.
GRCA’s commitment to supporting Berks County businesses and communities shines through in this report. By providing actionable data, we aim to empower local decision-makers to navigate challenges and seize opportunities effectively.
Through proactive and on-demand data, GRCA empowers people to make informed decisions. GRCA remains committed to providing the resources and insights needed to accelerate our community’s growth.