Chicago Metro Unemployment Rate Remains Unchanged at 6.0% in June
This morning, the U.S. Bureau of Labor Statistics (BLS) released preliminary June 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 June, an estimated 303,665 people in the 14-county Chicago metropolitan statistical area (MSA) were unemployed out of a labor force of approximately 5.054 million, resulting in a preliminary unemployment rate of 6.0% (not seasonally adjusted).
- Between June 2015 and June 2016, the Chicago MSA gained an estimated 89,325 employed residents, increasing total regional employment to approximately 4.750 million (not seasonally adjusted).
- The Chicago MSA posted a preliminary unemployment rate of 6.0% in June 2016 before seasonal adjustment – this is unchanged from the June 2015 rate.
- Unemployment rates were lower in June than a year earlier in 285 of 387 U.S. metros, 75 metros saw a year-over-year increase, and 27 experienced no change.
Current and historic data reflects data revisions completed by the BLS on April 15, 2016. For more information about these revisions please visit the BLS website.
Source: U.S. Bureau of Labor Statistics (LAUS and CPS)
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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.
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