News Item

02.01.2017

Chicago Metro Unemployment Rate Decreases to 5.4% in December 2016

This morning, the U.S. Bureau of Labor Statistics (BLS) released preliminary December 2016 unemployment rates for all Metropolitan Statistical Areas (MSAs). The unemployment rate measures the percentage of the local workforce that reports itself as being out of work, information that the government collects by surveying households.

Illustrated in the map and chart below, in December, an estimated 256,144 people in the 14-county Chicago metropolitan statistical area (MSA) were unemployed out of a labor force of approximately 4.897 million, resulting in a preliminary unemployment rate of 5.4% (not seasonally adjusted).

  • Between December 2015 and December 2016, the Chicago MSA gained an estimated 15,050 employed residents, increasing total regional employment to approximately 4.632 million (not seasonally adjusted).
  • The Chicago MSA’s preliminary unemployment rate of 5.4% is a decrease from the December 2015 unemployment rate of 5.7%.
  • Unemployment rates were lower in December than a year earlier in 236 of 387 U.S. metros, 111 metros saw a year-over-year increase, and 40 experienced no change.

 

World Business Chicago is a public-private, non-profit partnership that drives inclusive economic growth and job creation, supports business, and promotes Chicago as a leading global city.

WBC’s “Economic Briefs” track indicators from month to month to gauge the strength of several aspects of Chicago’s economy, including unemployment, population, venture capital, job openings and new hires, home sales, tourism, etc. This data provides a clear analytic framework for specific Plan strategies and initiatives. For a summary of these and other economic indicators, refer to WBC’s monthly Chicago By The Numbers

Related News

Blog

NEWS

News Item

03.20.2023

Getting to Know DCASE Commissioner Erin Harkey

Tell us about where you grew up and tell a special high school memory/story. I was born and raised in Los Angeles and went to Santa Monica High School; high…

View article

Blog

NEWS

News Item

02.28.2023

Black History Spotlight - Blake Anthony-Johnson

A Conversation with Blake-Anthony Johnson, CEO and President of Chicago Sinfonietta Blake-Anthony Johnson’s multifaceted career has included work as a performer, collaborator, recording artist, and

View article

Blog

NEWS

News Item

02.28.2023

Black History Spotlight - Leon Walker

Meet Leon Walker Over the past 20 years, Leon I. Walker, Esq., has spearheaded cutting-edge community development projects that have generated thousands of new jobs and brought grocery stores and&hell

View article

Blog

NEWS

News Item

02.06.2023

INVEST South/West breaks ground on its first project of the year in South Shore and brings a $100 million media campus to the area 

By: Markayle Tolliver  South Shore, Chicago, IL | This afternoon, Regal Mile Studios along with Mayor Lori Lightfoot, Alderwoman Michelle Harris (8th ward), Jim Reynolds, LOOP Capital CEO, and the&he

View article
Translate »