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Pennsylvania

878

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Area of United States, Canada and other provinces

Is Pennsylvania economically stable?

Philadelphia in the southeast corner, Pittsburgh in the southwest corner, Erie in the northwest corner, Scranton-Wilkes-Barre in the northeast corner, and Allentown-Bethlehem-Easton in the east central region are urban manufacturing centers. Much of the Commonwealth is rural; this dichotomy affects state politics as well as the state economy. Philadelphia is home to six Fortune 500 companies, with more located in suburbs like King of Prussia; it is a leader in the financial and insurance industry.

Pittsburgh is home to eight Fortune 500 companies, including U.S. Steel, PPG Industries, and H.J. Heinz. In all, Pennsylvania is home to fifty Fortune 500 companies. Hershey is home to The Hershey Company, one of the largest chocolate manufacturers in the world. Erie is also home to GE Transportation, which is the largest producer of train locomotives in the United States.

As in the US as a whole and in most states, the largest private employer in the Commonwealth is Walmart, followed by the University of Pennsylvania. Pennsylvania is also home to the oldest investor-owned utility company in the US, The York Water Company.

As of November 2018, the state's unemployment rate is 4.2%