Local Employment Trends March 2015

Today, the Illinois Department of Employment Security (IDES) released preliminary March 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 6.9% before seasonal adjustment – this is down from the March 2014 rate of 8.5%.
• The number of Chicago (city) residents employed increased by 12,441 compared to the year prior (from 1,251,342 in March 2014 to an estimated 1,263,783 in March 2015).
• Unemployed Chicago residents dropped by 23,650 compared to the year prior (from 116,887 to an estimated 93,237 in March 2015).
• The Chicago (city) economy has expanded by an estimated 19,072 private jobs since March 2014, mostly attributed to the education and health services (+7,814), professional and business services (+6,555) and retail trade (+4,151) sectors.

The charts below summarize monthly employment trends. Data is not seasonally adjusted.

Note: Current and historic data reflects the Local Area Unemployment Statistics Program 2015 Redesign, finalized on April 21, 2015. For more information about revisions to Local Area Employment Statistics (LAUS) data, please visit the Bureau of Labor Statistics (BLS) website and the IDES website.

Notes: Rates are not adjusted for seasonality, and should be compared year-over-year. City selection based on size and availability of data. 
Source: U.S. Bureau of Labor Statistics (BLS), IDES, Texas Workforce Commission, California Employment Development Department

The table below compares year-over-year change in jobs by industry for the city of Chicago. Data is not seasonally adjusted.

Note: Estimates are not official US Bureau of Labor Statistics Data.
Source: IDES

For more information on the Local Area Unemployment Statistics program, please visit the BLS or IDES websites.

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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.