Local Unemployment Trends July 2015
Today, the Illinois Department of Employment Security (IDES) released preliminary July 2015 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 job estimates by industry based on the Current Employment Statistics Program (or “employer survey”).
- The city of Chicago posted a preliminary unemployment rate of 6.8% before seasonal adjustment – this is down 1.3 percentage points from the July 2014 rate of 8.1%.
- The number of employed Chicago (city) residents increased by 15,973
compared to the year prior (from 1,277,876 in July 2014 to an estimated 1,293,849 in July 2015).
- Unemployed Chicago residents dropped by 18,638 compared to the year prior (from 112,722 to an estimated 94,084 in July 2015).
- The Chicago (city) economy has expanded by an estimated 18,997 private jobs since July 2014, mostly attributed to the Professional and Business Services (9,735), Education and Health Services (6,916), and Leisure and Hospitality (2,191) industries.
Chaired by Mayor Rahm Emanuel, World Business Chicago is the public-private partnership leading the Plan for Economic Growth and Jobs in order to drive business development, cultivate talent, and put Chicago at the forefront of the global economy.
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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