Authored by Charlie Doughtry, Jackie Benson, and Ali Hajibeigi via Wells Fargo,
Summary
Eagles vs. Chiefs in SBLVII Redux
The Philadelphia Eagles will take on the Kansas City Chiefs in the Super Bowl this Sunday. You aren't experiencing déjà vu; the two teams last met in the league championship game two years ago in 2023. The Eagles will seek to avenge the loss with a new offensive weapon and a revamped defense loaded with young talent. The Philadelphia economy has also been flying high as of late, with the metro economy boasting low unemployment and solid job growth. Meanwhile, the Chiefs are aiming for their third straight championship, which would make them the first NFL team to achieve such a feat. The Chiefs franchise turnaround over the past decade echoes an economic renaissance in the Kansas City economy, which is now outperforming many of its Midwestern peers.
Eagles and Chiefs Down in New Orleans
Super Bowl LIX kicks off on Sunday at Caesars Superdome in New Orleans in a matchup that will feature the Philadelphia Eagles and Kansas City Chiefs. The final game of the year is certain to be an entertaining showdown between two of the top teams in the NFL. The Kansas City Chiefs will have competed in five of the past six Super Bowls and look to be the first team in league history to win three consecutive Lombardi Trophies. Meanwhile, the Eagles have will seek to dethrone the defending champs in what will be their fourth Super Bowl appearance since 2005.
Millions of viewers are expected to tune in to catch the 59th installment of the Super Bowl. In 2024's version, over 120 million viewers watched the big game, marking the highest total ever and a turnaround from a recent slump.
Between 2015 and 2021, both the total number of viewers and Nielson household rating for the Super Bowl trended lower, consistent with reduced viewership numbers across professional and college sports.
The recent turnaround has coincided with higher advertising costs during the big game.
In 2024, the average cost of a 30-second ad was $7 million, similar to 2023's total but 13% above the recent low of $6.2 million in 2021. Zooming out, advertising space during the Super Bowl has become increasingly valuable since the first championship game in 1967. While the total number of viewers have tripled, the average inflation-adjusted cost of a 30 second-ad is now almost 15 times higher.
The recent turnaround in ratings can be owed to a number of factors ranging from offense-friendly rule changes to the presence of beloved international megastar Taylor Swift. However, the emergence of the Kansas City Chiefs dynasty led by quarterback Patrick Mahomes is likely the driving force. There is little left to be said about Mahomes except that he is only 29 years old and already trending toward "GOAT" status. Currently, Mahomes is without peer, however his reign is by no means secure thanks to a growing stock of elite young quarterbacks across the league. Eagles quarterback Jalen Hurts is just 26 years old but will be playing in his second championship. Meanwhile, the Buffalo Bills' Josh Allen and Baltimore Ravens' Lamar Jackson are both under 30 and currently lead as candidates for MVP. Over in the NFC, the Washington Commanders' storybook upset of the top-seeded Detroit Lions was led by rookie Jayden Daniels. Elsewhere, Jordan Love of the Green Bay Packers and Sam Darnold of the Minnesota Vikings had their teams in the playoffs despite playing in NFC North division, which ended the season with the highest overall win percentage.
Fly Eagles Fly
The Eagles will seek to avenge 2023's loss with a similar cast of characters and a major new offensive weapon. Philadelphia acquired Saquon Barkley this offseason from the New York Giants. Barkley posted historic levels of offensive production for a running back this year, coming close to setting the all-time regular-season rushing record. The power-house running back joined Jalen Hurts, all-pro wide receiver A.J. Brown and the top-ranked offensive line in football. Since Super Bowl LVII, the Eagles have made significant changes the defensive side of the ball. Veteran cornerback Darius "Big Play" Slay will once again take the field, however most other positions will be filled with younger talent. In addition to a pack of former Georgia Bulldogs in Jalen Carter, Jordan Davis and Nolan Smith, the Chiefs will line up against defensive rookie of the year candidates Quinyon Mitchell and Cooper DeJean.
The Philadelphia economy has also been flying high as of late. When the Bird's last played in the Super Bowl in early 2023, employment in the Philadelphia metro had yet to recoup all the jobs lost during the pandemic. A strong pace of employment growth has generated a full recovery ever since, with the employment level at the end of 2024 over 4% above the peak set in February 2020. In addition to an increase in public sector headcounts, hiring in Philly's influential "eds and meds" sector has been the driving force behind the overall pick-up in job growth in recent years, notably in the metro's burgeoning healthcare, biotech and life sciences clusters. Job growth has moderated somewhat more recently, yet remains strong enough to keep unemployment low. The metro unemployment rate stood at 3.8% in November, not far from the 3.4% record low posted in the summer of 2023. Although cooler, Philadelphia's labor market is currently outperforming. The metro unemployment rate has held steady below the national rate, which has drifted up over the past year. What's more, the metro labor force has expanded strongly over the past few years and currently sits near an all-time high of 3.3 million workers.
The strength in Philadelphia's labor force growth stands out compared to most other major metro areas in the Northeast, many of which have experienced a sluggish rebound following the pandemic.
Kansas City Chiefs Going for a Three-Peat
The Kansas City Chiefs will make their third straight Super Bowl appearance this Sunday. Although the Chiefs finished the year with a 15-2 record, one of the best records in franchise history, the team suffered a number of injuries over the course of the season which contributed to a noticeable lack of offensive pizzazz for the defending champs. Even still, the connection between Patrick Mahomes and tight-end Travis Kelce remained alive and well, and the arrival of speedster wide receiver Xavier Worthy helped bolster the team's offense. Meanwhile, the Chiefs elite defense has been a potent mix of brains and brawn, with defensive coordinator Steve Spagnuolo setting impenetrable defensive fronts with the help of all-pro defensive tackle Chris Jones.
The Kansas City metro spans across Eastern Kansas and Western Missouri. Downtown KC is located on the Missouri side of the border and is known for its fervent sports fans and world-class barbeque. The Kansas City economy also has been vibrant lately. Following a robust 5.0% expansion in 2022, the metro’s real GDP registered a solid 2.7% increase in 2023, lifting the economy 9.6% above its prepandemic size in 2019. Recent momentum has been driven by sectors associated with a growing population. The retail trade and real estate, rental and leasing industries are two noteworthy examples, propelling more than half of the metro’s economic expansion in 2023. Migration to the city is steadily climbing. Kansas City welcomed 3.2K new domestic residents in 2023 and 3.6K new foreign residents in 2023, pushing the annual rate of population growth up to 0.6%. Affordable housing costs are a notable draw, with KC apartment rents and home values well below the national average.
A growing population has helped to fuel the local labor market. The Kansas City metro added 18.6K jobs in 2024, amounting to a 1.6% annual increase. Yet, most of these gains occurred in the first half of the year. Employment has essentially moved sideways since June, weighed down by recent losses in education and accommodation & food services. As job growth slows, KC employers have had a harder time absorbing new labor force entrants. Kansas City’s unemployment rate picked up from its cycle low of 2.4% in July 2022 to 3.6% as of November 2024, which is still comfortably below the U.S. rate of 4.1%. The health care industry has bucked the trend, becoming a more prominent feature of Kansas City’s labor market. Persistent job growth in recent years has lifted the share of KC payrolls in health care & social insurance to 13%, its highest level on record.
Arrowhead Stadium may be the site of future development. The Chiefs have called the stadium home for 53 years, making it the third oldest stadium in the NFL. Last year, the team unveiled plans for an $800 million renovation to upgrade and repair the facility. Those plans are currently in flux after Jackson County residents voted down a tax increase to fund the project. Now, reports suggest that the Chiefs may be looking for a new stadium, possibly on the Kansas side of the city, once their lease expires in 2031. Whatever the case, Arrowhead field will remain a mecca for sports fans in the years ahead. The stadium is slated to host six FIFA World Cup games in 2026.
Who Will Hoist the Lombardi Trophy in New Orleans?
The Eagles and Chiefs will once again face off on Super Bowl Sunday. The Chiefs enter the contest as slight favorites, though they are arguably up against their toughest competition of the year. The Eagles underperformed to start the season, but now appear to be hitting their stride at exactly the right moment. Although favored, Kansas City will need to continue to play mistake-free football and put on a defensive display for the ages in order to three-peat, a feat that other dynasties such as the 1970s Steelers, 1990s Cowboys and 2000s Patriots failed to accomplish. The Chiefs are well-accustomed to winning close games, with narrow margins of victory common throughout the regular season and playoffs. That said, the Eagles have continuously turned close games into wide margins of victory over the course of the season.
Overall, we expect the Eagles to defeat the Chiefs 31-17.
Authored by Charlie Doughtry, Jackie Benson, and Ali Hajibeigi via Wells Fargo,
Summary
Eagles vs. Chiefs in SBLVII Redux
The Philadelphia Eagles will take on the Kansas City Chiefs in the Super Bowl this Sunday. You aren’t experiencing déjà vu; the two teams last met in the league championship game two years ago in 2023. The Eagles will seek to avenge the loss with a new offensive weapon and a revamped defense loaded with young talent. The Philadelphia economy has also been flying high as of late, with the metro economy boasting low unemployment and solid job growth. Meanwhile, the Chiefs are aiming for their third straight championship, which would make them the first NFL team to achieve such a feat. The Chiefs franchise turnaround over the past decade echoes an economic renaissance in the Kansas City economy, which is now outperforming many of its Midwestern peers.
Eagles and Chiefs Down in New Orleans
Super Bowl LIX kicks off on Sunday at Caesars Superdome in New Orleans in a matchup that will feature the Philadelphia Eagles and Kansas City Chiefs. The final game of the year is certain to be an entertaining showdown between two of the top teams in the NFL. The Kansas City Chiefs will have competed in five of the past six Super Bowls and look to be the first team in league history to win three consecutive Lombardi Trophies. Meanwhile, the Eagles have will seek to dethrone the defending champs in what will be their fourth Super Bowl appearance since 2005.
Millions of viewers are expected to tune in to catch the 59th installment of the Super Bowl. In 2024’s version, over 120 million viewers watched the big game, marking the highest total ever and a turnaround from a recent slump.
Between 2015 and 2021, both the total number of viewers and Nielson household rating for the Super Bowl trended lower, consistent with reduced viewership numbers across professional and college sports.
The recent turnaround has coincided with higher advertising costs during the big game.
In 2024, the average cost of a 30-second ad was $7 million, similar to 2023’s total but 13% above the recent low of $6.2 million in 2021. Zooming out, advertising space during the Super Bowl has become increasingly valuable since the first championship game in 1967. While the total number of viewers have tripled, the average inflation-adjusted cost of a 30 second-ad is now almost 15 times higher.
The recent turnaround in ratings can be owed to a number of factors ranging from offense-friendly rule changes to the presence of beloved international megastar Taylor Swift. However, the emergence of the Kansas City Chiefs dynasty led by quarterback Patrick Mahomes is likely the driving force. There is little left to be said about Mahomes except that he is only 29 years old and already trending toward “GOAT” status. Currently, Mahomes is without peer, however his reign is by no means secure thanks to a growing stock of elite young quarterbacks across the league. Eagles quarterback Jalen Hurts is just 26 years old but will be playing in his second championship. Meanwhile, the Buffalo Bills’ Josh Allen and Baltimore Ravens’ Lamar Jackson are both under 30 and currently lead as candidates for MVP. Over in the NFC, the Washington Commanders’ storybook upset of the top-seeded Detroit Lions was led by rookie Jayden Daniels. Elsewhere, Jordan Love of the Green Bay Packers and Sam Darnold of the Minnesota Vikings had their teams in the playoffs despite playing in NFC North division, which ended the season with the highest overall win percentage.
Fly Eagles Fly
The Eagles will seek to avenge 2023’s loss with a similar cast of characters and a major new offensive weapon. Philadelphia acquired Saquon Barkley this offseason from the New York Giants. Barkley posted historic levels of offensive production for a running back this year, coming close to setting the all-time regular-season rushing record. The power-house running back joined Jalen Hurts, all-pro wide receiver A.J. Brown and the top-ranked offensive line in football. Since Super Bowl LVII, the Eagles have made significant changes the defensive side of the ball. Veteran cornerback Darius “Big Play” Slay will once again take the field, however most other positions will be filled with younger talent. In addition to a pack of former Georgia Bulldogs in Jalen Carter, Jordan Davis and Nolan Smith, the Chiefs will line up against defensive rookie of the year candidates Quinyon Mitchell and Cooper DeJean.
The Philadelphia economy has also been flying high as of late. When the Bird’s last played in the Super Bowl in early 2023, employment in the Philadelphia metro had yet to recoup all the jobs lost during the pandemic. A strong pace of employment growth has generated a full recovery ever since, with the employment level at the end of 2024 over 4% above the peak set in February 2020. In addition to an increase in public sector headcounts, hiring in Philly’s influential “eds and meds” sector has been the driving force behind the overall pick-up in job growth in recent years, notably in the metro’s burgeoning healthcare, biotech and life sciences clusters. Job growth has moderated somewhat more recently, yet remains strong enough to keep unemployment low. The metro unemployment rate stood at 3.8% in November, not far from the 3.4% record low posted in the summer of 2023. Although cooler, Philadelphia’s labor market is currently outperforming. The metro unemployment rate has held steady below the national rate, which has drifted up over the past year. What’s more, the metro labor force has expanded strongly over the past few years and currently sits near an all-time high of 3.3 million workers.
The strength in Philadelphia’s labor force growth stands out compared to most other major metro areas in the Northeast, many of which have experienced a sluggish rebound following the pandemic.
Kansas City Chiefs Going for a Three-Peat
The Kansas City Chiefs will make their third straight Super Bowl appearance this Sunday. Although the Chiefs finished the year with a 15-2 record, one of the best records in franchise history, the team suffered a number of injuries over the course of the season which contributed to a noticeable lack of offensive pizzazz for the defending champs. Even still, the connection between Patrick Mahomes and tight-end Travis Kelce remained alive and well, and the arrival of speedster wide receiver Xavier Worthy helped bolster the team’s offense. Meanwhile, the Chiefs elite defense has been a potent mix of brains and brawn, with defensive coordinator Steve Spagnuolo setting impenetrable defensive fronts with the help of all-pro defensive tackle Chris Jones.
The Kansas City metro spans across Eastern Kansas and Western Missouri. Downtown KC is located on the Missouri side of the border and is known for its fervent sports fans and world-class barbeque. The Kansas City economy also has been vibrant lately. Following a robust 5.0% expansion in 2022, the metro’s real GDP registered a solid 2.7% increase in 2023, lifting the economy 9.6% above its prepandemic size in 2019. Recent momentum has been driven by sectors associated with a growing population. The retail trade and real estate, rental and leasing industries are two noteworthy examples, propelling more than half of the metro’s economic expansion in 2023. Migration to the city is steadily climbing. Kansas City welcomed 3.2K new domestic residents in 2023 and 3.6K new foreign residents in 2023, pushing the annual rate of population growth up to 0.6%. Affordable housing costs are a notable draw, with KC apartment rents and home values well below the national average.
A growing population has helped to fuel the local labor market. The Kansas City metro added 18.6K jobs in 2024, amounting to a 1.6% annual increase. Yet, most of these gains occurred in the first half of the year. Employment has essentially moved sideways since June, weighed down by recent losses in education and accommodation & food services. As job growth slows, KC employers have had a harder time absorbing new labor force entrants. Kansas City’s unemployment rate picked up from its cycle low of 2.4% in July 2022 to 3.6% as of November 2024, which is still comfortably below the U.S. rate of 4.1%. The health care industry has bucked the trend, becoming a more prominent feature of Kansas City’s labor market. Persistent job growth in recent years has lifted the share of KC payrolls in health care & social insurance to 13%, its highest level on record.
Arrowhead Stadium may be the site of future development. The Chiefs have called the stadium home for 53 years, making it the third oldest stadium in the NFL. Last year, the team unveiled plans for an $800 million renovation to upgrade and repair the facility. Those plans are currently in flux after Jackson County residents voted down a tax increase to fund the project. Now, reports suggest that the Chiefs may be looking for a new stadium, possibly on the Kansas side of the city, once their lease expires in 2031. Whatever the case, Arrowhead field will remain a mecca for sports fans in the years ahead. The stadium is slated to host six FIFA World Cup games in 2026.
Who Will Hoist the Lombardi Trophy in New Orleans?
The Eagles and Chiefs will once again face off on Super Bowl Sunday. The Chiefs enter the contest as slight favorites, though they are arguably up against their toughest competition of the year. The Eagles underperformed to start the season, but now appear to be hitting their stride at exactly the right moment. Although favored, Kansas City will need to continue to play mistake-free football and put on a defensive display for the ages in order to three-peat, a feat that other dynasties such as the 1970s Steelers, 1990s Cowboys and 2000s Patriots failed to accomplish. The Chiefs are well-accustomed to winning close games, with narrow margins of victory common throughout the regular season and playoffs. That said, the Eagles have continuously turned close games into wide margins of victory over the course of the season.
Overall, we expect the Eagles to defeat the Chiefs 31-17.
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