To underscore the Lehigh Valley’s strong economy, it’s not hard to find impressive facts.

Fueled by diverse industry sectors where manufacturing leads the way, the Lehigh Valley added $10 billion to its economy in five years and most recently posted a record Gross Domestic Product of $50.2 billion. Companies are expanding and new ones are landing here, catapulting the Lehigh Valley in 2023 to the No. 1 U.S. mid-sized market for the number of economic development projects. 

But economic development is not just about projects. It’s about people.

In celebration of Pennsylvania Economic Development Week (April 14-20), Lehigh Valley Economic Development Corporation  (LVEDC) is sharing some key metrics that describe how people are making out in this economy.

Jobs

The number of jobs at employers located in the Lehigh Valley rose to 338,281 in the third quarter of 2023. That’s an increase of nearly 12,500 jobs in five years.

The employment sectors that added the most jobs in the last five years are logistics, health care, manufacturing, and professional, scientific, and technical services. The job growth continues to fortify the diversity of the economy, allowing it to better withstand economic shocks to any particular industry or employer.

Source: Chmura Economics JobsEQ

Unemployment

The unemployment rate among Lehigh Valley residents was 3.4% in February, a near record low. Essentially, anyone who wants a job can get one.

The unemployment rate has hovered below 5% for the last five years, except for the disruption caused by the pandemic.

Source: Pennsylvania Center for Workforce Analysis

Median Household Income

The median household income in the Lehigh Valley grew to $78,287 in 2022. That’s an increase of $15,000 over five years.

Household income in the Lehigh Valley is higher than the U.S. ($75,149) and Pennsylvania ($73,170).

Source: American Community Survey, 2022 5-year estimates. (Estimates are weighted averages from Lehigh and Northampton counties).

Poverty Level

Poverty levels fell to 10.7% in 2022. That’s a lower rate than the U.S. (12.5%) and Pennsylvania (11.8%).

Source: American Community Survey, 2022 5-year estimates. (Estimates are weighted averages from Lehigh and Northampton counties).

Population

In 2023, the population in the Lehigh Valley grew to 696,845, an increase of more than 9,000 people, even as nearby cities like Philadelphia and New York City lost population.

The driver behind the growth is quality of life. A consequential number of people moved here. Lehigh County ranks among the top 5% of all U.S. counties for net international migration since 2020 and Northampton County among the top 5% for domestic migration.

Source: 2023 U.S. Census Population Estimates 

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