City is in better shape for economic downtown than in past.
As the national economy walks a tightrope between boom and gloom, Philadelphia is girding for the possibility of tough times after several years of modest job growth and relative prosperity. But what is surprising is that both economists and ordinary citizens alike say that what happens nationally might not matter a whole lot in Philadelphia - at least not nearly as much as during the downturns and recessions in recent decades as the city hemorrhaged hundreds of thousands of factory jobs. That is because Philadelphia's economy, which was long overly reliant on manufacturing, has diversified into other areas ranging from health care to higher education to tourism. People at the bottom of the economic ladder will always be hurt by any economic slump. If you want to make money, you can make money.