Local Employment Trends July 2016
Today, the Illinois Department of Employment Security (IDES) released preliminary July 2016 data on unemployment rates for municipalities across the state based on the current population survey (or “household survey”). The following brief summarizes this data, as well as IDES’ job estimates by industry based on the Current Employment Statistics Program (or “employer survey”).
- The city of Chicago posted a preliminary unemployment rate of 6.2% in July 2016 before seasonal adjustment – this is down 0.7 percentage points from the July 2015 rate.
- Chicago’s labor force expanded (+25,765) from 1,382,597 in July 2015 to 1,408,362 in July 2016, suggesting that more residents are actively looking for work.
- The number of employed Chicago (city) residents increased by 33,112 compared to the year prior, from 1,287,305 in July 2015 to an estimated 1,320,417 in July 2016.
- Unemployed Chicago (city) residents decreased by 7,347 compared to the year prior, from 95,292 in July 2015 to an estimated 87,945 in July 2016.
According to payroll job estimates from IDES, the Chicago (city) economy has expanded by an estimated 10,620 private jobs since July 2015, mostly attributed to leisure and hospitality (+3,587), professional and retail trade (+2,395) and construction (+1,741).
The table below compares year-over-year change in job estimates by industry for the city of Chicago. Data is not seasonally adjusted.
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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