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The April jobs report is due tomorrow, and some economists will be watching Philadelphia with particular interest. The city’s unemployment rate is higher than that of the state and country, and in today’s newsletter my colleague Samantha Fields explains why. We’ll also get some advice on office life and take stock of voters’ concerns ahead of the midterm. Spoiler: Jobs aren’t the main one!

But first: Marketplace’s economic journalism is free to everyone. Please help us keep it that way by donating to our spring fundraiser. If we can add 500 new members by tomorrow, we’ll unlock an additional $25,000 from our Investors Challenge Fund. So don’t wait!  — Carrie Barber, newsletter editor
Independence Hall in Philadelphia.
Bryan Steffy/Getty Images
Why Philadelphia’s unemployment rate is higher than the state and nation
Almost 40% of adults struggle to fill out a job application, a local literacy nonprofit says.
In the last year, more than 17,000 people have walked into an old Art Deco office building in the center of Philadelphia, just down the street from City Hall, looking for help finding work.

Inside on the second floor is one of four publicly funded job centers in the city. In the mornings, there’s often a line at the check-in desk.

Dawn Thomas-Hayward, the communications director at Philadelphia Works, the city’s nonprofit workforce development board, said people come here for all sorts of reasons, “to see their workforce adviser, to go use the computer resource center, do job search, get resume help, get into trainings.”

This is one of four such centers around the city. All are open to walk-ins from 8 a.m. to 4:30 p.m., five days a week.

James Anderson first walked in five or six years ago, soon after he got out of prison in his mid-50s.

“I was incarcerated, tired of that circle, in and out,” he said. “And I thought, ‘Maybe I'll just start looking into some of the resources that's available and see where it can lead me.’”

He told his adviser at the time that he was interested in vocational training, and they got him into a program to get his commercial driver’s license.

“They funded everything, like really helped me get that opportunity to get into a new future,” he said.

But without much on-the-job experience, Anderson has found it hard to land steady, full-time work at a good company. He’s only working one day a week, and not as a driver. That’s why he’s back at CareerLink, hoping they can help him find something again.

“It's been challenging trying to get a job where you could say, ‘Whew, thank you, God,’ you know what I mean. ‘I’m good now, ain’t got to stress,’” he said. “That kind of work, it's been challenging for me.”

It’s challenging for a lot of people to find work right now. Elizabeth Giddings sees that every day in her job as a CareerLink workforce adviser, where she works one-on-one with people to help them find a job or get into an apprenticeship or training program.

“When I do an orientation for the individuals to get a workforce adviser, the room is packed,” Giddings said. “So I know the economy is pretty bad.”

And those one-on-one appointments people can make with her or another adviser are booked until June.

“A lot of people are just becoming laid off,” Giddings said. “And I see individuals that come in that have been laid off since last year, the early part of the spring, and they still have not obtained employment.”

Philadelphia’s unemployment rate has risen from 4.5% in December to 5.3% in January, the most recent month for which city data is available. That is a whole percentage point higher than the state and national average. By contrast, the unemployment rate in Pittsburgh — Pennsylvania’s second largest city — is 4.1%, lower than the state and national average.

“One of the challenges we face as a city is our adult literacy rate,” said Patrick Clancy, president and CEO of Philadelphia Works. “We are severely challenged, with some of our adults unable to pass a sixth- or eighth-grade reading and math test.”
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News you should know
Let’s do the numbers
  • Stocks were knocked from their perch today as investors’ hopes for an end to the Iran war went unfulfilled. The S&P 500 fell 0.4% and the Nasdaq slipped 0.1%, both from record highs yesterday. The Dow dropped 0.6%.

  • Whirlpool shares fell nearly 12% today after it blamed soaring energy costs and falling consumer confidence for a 7.5% drop in sales last quarter. The appliance maker called it a “recession-level industry decline.”

  • Productivity growth slowed more than expected to 0.8% in the first quarter. AI isn’t supercharging productivity yet; experts told us some of this growth is actually DoorDash and gambling.

  • Which costs are worrying people the most? Healthcare and gas, according to a new poll from health policy nonprofit KFF. About 90% of respondents said healthcare costs will influence how and whether they vote.

Gas and oil
  • Gas prices are hitting low-income households the hardest, according to new data from the New York Fed. Households making more than $125,000 a year aren’t pulling back their spending on gas yet. More evidence of the K-shaped economy.

  • Oil prices see-sawed today while the U.S. and Iran continued to work on a peace deal. A barrel of Brent crude, the international standard, settled at $100.06. A gallon of regular gas averaged $4.55.

  • Hop on a Japanese tanker and see why it takes a month for crude oil to travel from the Strait of Hormuz to the gas pump.


QUOTE OF THE DAY
“One of the biggest takeaways from this trial is we're learning how these billionaires operate, how these huge personalities need their egos to be managed by a whole cast of characters around them.”
— Paresh Dave, Wired senior writer
Tech mogul Elon Musk alleges his OpenAI co-founder and current CEO Sam Altman abandoned the company’s mission by converting it into a for-profit business. Dave has been in the courtroom in Oakland, California, watching it all play out. Some of the most dramatic testimony came from Shivon Zilis, a former Elon Musk aide and mother of four of his children who also served on the OpenAI board. Dave gave us all the details on “Marketplace Tech.”
HEAR MORE
Economic reporting shouldn't be out of reach. Your gift ensures everyone can make sense of the economy.
Our guest this week, podcast editor Tobin Low, with one of his favorite office supplies. (Photo credit: Stephanie Fong)
Final note
Help! My work crush just became my boss!
That’s just one of several “Work Drama” questions you asked on “This Is Uncomfortable,” our podcast about life and how money messes with it. You’ll have to listen to this week’s episode to hear the answers, but we’ll leave you with this takeaway: Keep a clown nose in the office.
HEAR MORE
 
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