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 Q2 2024 produced for GRCA by the Lancaster EDC Center for Regional Analysis. The report offers key insights into trends in the labor market, consumer spending and economic growth.
Highlights include:
- Berks County’s economy remained relatively steady through Q2 thanks to a growing labor force, low unemployment and wages outpacing inflation — despite the local labor force having yet to return to pre-pandemic levels.
- Berks County’s labor market remained tight.
- Although the local labor force continued to expand over Q2, as of June 2024, it remained well below where it was in June 2019.
- Despite a slight dip in employment over Q2 2024, unemployment remained seasonally low as of June 2024.
- The growth in average hourly earnings in Berks County has outpaced inflation over the last year.
- Berks County consumers continued to spend over Q2 2024.
- However, increased costs of new rental leases in Berks County outpaced inflation.
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.