The Greater Reading Chamber Alliance (GRCA) is proud to share the latest insights into the region’s economic performance with the release of the 2024 Berks County State of the Economy report. Developed in collaboration with the Lancaster EDC’s Center for Regional Analysis, the report provides a comprehensive snapshot of key trends shaping the local economy, from employment and wages to housing, demographics and more.
This annual update serves as a valuable resource for business leaders, policymakers and community stakeholders seeking to better understand the opportunities and challenges influencing growth in Berks County.
Economic Growth Highlights
In 2024, Berks County experienced steady progress across several key economic indicators, including increases in gross domestic product (GDP), employment and average earnings.
- Manufacturing remains the cornerstone of the local economy, leading all sectors in both GDP contribution and employment. Average wages in the sector exceed the countywide average by more than $10,000 per year.
- The Transportation, Warehousing, and Utilities sector experienced the largest percentage increase in employment from 2019 to 2024.
- Berks County recorded its fourth consecutive year of employment growth, with an average of 211,200 people employed throughout 2024.
- The county’s unemployment rate dropped to an annual average of 3.7%, tying the all-time low last seen in 2023.
- Although wages did not keep pace with inflation in 2024, average hourly earnings have grown by more than 32% since 2020, outpacing the national rate of inflation of 22.3% over that five-year period.
Despite these strengths, the region faces several ongoing challenges:
- The population is aging, reducing the share of residents in the prime working-age category (25–54). From 2013 to 2023, this group shrank by 2.3% or 9,700 workers.
- The housing market remains tight, with a 5.5% vacancy rate limiting availability and affordability.
To explore the full 2024 Berks County State of the Economy Report, including detailed charts and additional insights, please download the full 2024 Berks County State of the Economy Report conducted by Lancaster EDC’s Center for Regional Analysis.
Why the Data is Important
Having a clear understanding of economic conditions helps residents, businesses, community leaders and policymakers make informed decisions. The trends and data in this report offer a valuable window into the strengths and challenges shaping Berks County’s economy.
By analyzing this information, stakeholders can plan for growth, address workforce needs, attract talent and guide strategic investments.
GRCA’s Commitment
GRCA remains committed to providing access to reliable, timely economic information. We believe transparency and data sharing are essential to building a vibrant and resilient economy in Berks County. This report reflects our dedication to supporting business and community leaders through informed decision-making and long-term planning.