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STATE ECONOMIC PROFILE

Delaware Economic Overview

$804.4b

GROSS STATE PRODUCT

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Growth Rate 2019-24

State Growth Rank

0.8%

42

12,960,753

POPULATION

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Growth Rate 2019-24

State Growth Rank

0.3%

35

1,234,557

BUSINESSES

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Growth Rate 2019-24

State Growth Rank

2.0%

38

Overview of the Pennsylvania Economy

In 2024, the state of Pennsylvania has a population of 12,960,753, having grown an annualized 0.3% over the five years to 2024, which ranks it 35th out of all 50 US states by growth rate. Pennsylvania's gross state product (GSP) in 2024 reached $804.4b, with growth of 0.8% over the 5 years to 2024. Businesses in Pennsylvania employed a total of 7,024,199 people in 2024, with average annual employment growth over the past five years of 0.3%. The top three sectors by total employment are Real Estate and Rental and Leasing, Healthcare and Social Assistance, Manufacturing, while the unemployment rate across the state in 2024 was 3.5%.

What is Delaware's Gross Domestic Product (GDP)?

In 2024, Pennsylvania's GDP reached $804.4b, representing an increase of 0.8% from 2023. Pennsylvania's GDP has grown at an annualized rate of 1.9% over the five years to 2024. Moreover, Pennsylvania's trailing five-year GDP growth ranks it 42nd out of all 50 US states.

State GDP, or Gross State Product, is a measurement of a state's output, or the sum of value added from all industries in the state. It is a common indicator used to track the health of a state's economy.

You can track trends in Pennsylvania's GDP, and compare them to the national average, using the chart below.

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STATE ECONOMIC PROFILE

Delaware Industry Trends

Learn about current trends affecting the most significant industries for Pennsylvania's state economy, down to the county level. IBISWorld offers state industry research reports on over 30,000 industries across all 50 states in the US, including 651 industries in Pennsylvania.

What are Delaware's Largest Industries by Revenue?

The largest industries by revenue in Pennsylvania are Health & Medical Insurance, Colleges & Universities and Drug, Cosmetic & Toiletry Wholesaling, which generated $92.2b, $86.6b and $86.4b in 2024.

See all industries in Pennsylvania >

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STATE ECONOMIC PROFILE

Top Companies in Delaware

Learn about current trends affecting the top companies in Pennsylvania. IBISWorld offers benchmarking data and tools on over 5,000 companies in the US.

Top 10 Companies Headquartered in Delaware by Employment

The largest companies by employment in Pennsylvania are Walmart Inc., Pennsylvania State University and Amazon.Com, Inc., which employed 55,295, 33,545 and 30,000 people in 2024.

Company
2024 Employment
2024 Employment %
1.
55,295
0.8%
2.
Pennsylvania State University
33,545
0.5%
3.
30,000
0.4%
4.
University of Pennsylvania Health System
28,443
0.4%
6.
University of Pennsylvania
18,000
0.3%
7.
16,869
0.2%
8.
15,349
0.2%
9.
University of Pittsburgh
14,600
0.2%
10.
14,204
0.2%

View all companies >

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STATE ECONOMIC PROFILE

Delaware Sector Statistics

In Pennsylvania, certain sectors drive a higher share of state GDP and employ more workers than others. However, simply looking at raw numbers doesn't always tell the whole story. Factoring in the current year growth percentage, in addition to the annualized growth percentage over the past five years, will give you a deeper understanding of the economic situation.

What is Delaware's GDP by Sector?

The Real Estate and Rental and Leasing, Healthcare and Social Assistance and Manufacturing sectors contributed the most to Pennsylvania's GDP in 2024, representing a combined 37.4% of state GDP.

GDP trends by sector are an important indicator of which sectors are contributing the most value-add to the state's economy, in addition to how the state economy is evolving over time.

Sector
GDP
Growth 2024 (%)
Annualized Growth 2019-24
101,497,411,400
1.8%
1.7%
87,702,150,115
3.6%
2.4%
86,669,968,584
0.5%
-0.3%
53,008,460,830
4.1%
2.8%
49,853,438,433
-0.8%
-1.1%
47,383,632,469
4.2%
1.6%
37,009,825,161
-2.4%
-2.7%
30,893,753,976
2.4%
1.5%
25,628,979,630
-2.6%
-3.5%
20,098,923,985
5.1%
1.2%
19,731,413,118
2.1%
0.7%
11,399,033,908
0.1%
-0.8%
9,713,380,345
0.2%
-1.5%

What is Delaware's Employment by Sector?

The Healthcare and Social Assistance, Retail Trade and Educational Services sectors contributed the most to employment in Pennsylvania in 2024, representing a combined 40.7% of state employment.

Employment trends by sector are an important indicator of which sectors are growing or contracting most rapidly relative to the state economy as a whole.

Sector
Employment
Growth 2024 (%)
Annualized Growth 2019-24
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STATE ECONOMIC PROFILE

Delaware Employment Trends

7.0m

EMPLOYMENT

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Growth Rate 2019-24

State Growth Rank

0.9%

20

3.5%

UNEMPLOYMENT

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Growth Rate 2019-24

State Growth Rank

-4.2%

7

What Employment Trends are Impacting Delaware?

The state of Pennsylvania employs 7,024,199 people in 2024, which ranks it 6th out of all 50 US states. Employment in Pennsylvania has grown at an annualized rate of 0.9% over the five years to 2024, underperforming the national average of 1.2%. Major sectors by employment in Pennsylvania include Healthcare and Social Assistance, Retail Trade and Educational Services, which employed 1,261,408, 808,317 and 791,717 people in 2024, respectively. Pennsylvania's unemployment rate is 3.5% in 2024, which ranks it 23rd out of 50 states. Pennsylvania's unemployment rate has trended downwards at a rate of -4.2% over the five years to 2024, overperforming the US economy as a whole.

Employment trends indicate the degree of tightness or slack in labor markets, in addition to the overall strength of an economy. Faster employment growth typically indicates a strong and growing economy, while lower unemployment tends to imply tightness in labor markets.

You can track unemployment trends in Pennsylvania, and compare them to the US economy, using the chart below.

$110.6k

PER CAPITA DISPOSABLE INCOME

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Growth Rate 2019-24

State Growth Rank

5.1

39

What is Delaware's Per Capita Disposable Income?

Per capita disposable income, also known as disposable personal income (DPI), is the amount of money that the average person in an economy has available for spending and saving after accounting for income taxes. Pennsylvania's DPI in 2024 was $110.6k, compared to the US average of $129.8k, which places it 39th out of all 50 US states.

Disposable income is regarded as a key economic indicator as trends in disposable income are indicative of the level of aggregate demand, the state of labor markets and the financial strength of households.

You can track trends in Pennsylvania's per capita disposable income, and compare it to the US average, using the chart below.

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STATE ECONOMIC PROFILE

Delaware Construction & Building Trends

$10,585.4tn

NONRESIDENTIAL CONSTRUCTION

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Growth Rate 2019-24

State Growth Rank

-4.3%

7

$6.6tn

RESIDENTIAL CONSTRUCTION

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Growth Rate 2019-24

State Growth Rank

7.3%

24

25,063

BUILDING PERMITS

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Growth Rate 2019-24

State Growth Rank

1.8%

24

What can construction trends tell you about a state’s economy?

In Pennsylvania, non-residential construction was $10,585.4tn in 2024, which ranks it 7th out of all US states. Residential construction was $6.6tn in 2024, which places Pennsylvania 24th in the United States. The number of building permits issued in Pennsylvania in 2024 was 25,063, representing a 1.8% annualized growth rate between 2019 and 2024.

Trends in the construction sector are important because it creates jobs, income and tax revenue for a state. In addition, construction sector activity impacts other sectors in its supply chain, including manufacturing, wholesaling, warehousing, transportation, and real estate, rental and leasing services. Therefore, construction trends are important indicators of the health of an economy.

You can track trends in the number of building permits issued in Pennsylvania, and compare it to trends in the number issued in the United States as a whole, using the chart below.

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STATE ECONOMIC PROFILE

Delaware Population Statistics

Which Counties in Delaware have the Largest Populations?

The counties with the highest populations in Pennsylvania are Philadelphia County, Allegheny County and Montgomery County, which had populations of 1,539,439, 1,219,278 and 871,516 people in 2024.

Region
2024 Population
Annual Growth 2019-24 (%)
Population Growth 2024 (%)
Philadelphia
1.5m
-0.9%
11.9%
Allegheny
1.2m
-0.6%
9.4%
Montgomery
871.5k
0.4%
6.7%
Bucks
644.2k
-0.1%
5.0%
Delaware
574.5k
-0.1%
4.4%
Lancaster
559.8k
0.3%
4.3%
Chester
555.4k
0.9%
4.3%
York
465.1k
0.4%
3.6%
Berks
432.4k
0.2%
3.3%
Lehigh
378.4k
0.3%
2.9%
Westmoreland
349.6k
-0.3%
2.7%
Luzerne
327.4k
0.2%
2.5%
Northampton
322.3k
0.6%
2.5%
Dauphin
291.2k
0.4%
2.3%
Cumberland
275.8k
1.3%
2.1%
Erie
264.8k
-0.5%
2.0%
Lackawanna
215.5k
N/A
1.7%
Washington
211.2k
0.2%
1.6%
Butler
199.8k
0.6%
1.5%
Monroe
166.1k
-0.3%
1.3%
Beaver
163.7k
-0.6%
1.3%
Centre
158.5k
N/A
1.2%
Franklin
157.7k
0.2%
1.2%
Lebanon
144.8k
0.3%
1.1%
Schuylkill
143.0k
N/A
1.1%
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STATE ECONOMIC PROFILE

Delaware Demographics

In Pennsylvania, 36.6% of the population has a Bachelors or higher. The largest ethnic group in Pennsylvania is White, accounting for 73.7% of the state's population.

Education Level Pennsylvania

Education Level
Pennsylvania (%)
Bachelors or higher
36.6
Other
63.4

Race in Pennsylvania

Race
Pennsylvania (%)
White
73.7
Black
10.8
Hispanic
9.1
Asian
4.2
Other
2.2
Delaware State Industry Reports

IBISWorld State Industry Reports help you quickly understand how an industry performs at the state level compared with the national level by providing accurate and unbiased industry information with a local focus. Use this collection to:

  • Discover key local industry trends
  • Identify threats and opportunities at the subnational level
  • Inform your business strategies and planning

See our list of 651 Pennsylvania Industry Reports.

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