Overall unemployment rate moved down to 4.9% with the biggest shift in Education & Healthcare, which gained 14,200 roles, based on the most recently available information published in April 2022.
Total employment in the Chicago-Naperville-Elgin, IL-IN-WI market rose by 25,274 jobs in February and the unemployment rate decreased compared to the prior month by 20 bps to 4.9%. The national unemployment rate decreased by 28 bps over the same time to 4.1%.
- Chicago-Naperville-Elgin, IL-IN-WI unemployment rate is 76 bps above the national rate which is a negative sign.
- Unemployment in the market is 340 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in February versus prior month by 5.5% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.7% . Key sectors include:
- Transportation & Utilities: 950,600; +200
- Business Services: 826,300; +1,500
- Education & Healthcare: 724,600; +14,200
- Government: 527,100; +9,100
- Restaurants & Hotels: 413,600; +2,800
- Manufacturing: 404,700; +3,300
- Financial Services: 314,500; -1,000
- Other Jobs: 184,500; +500
- Construction, Mining: 158,200; -500
- IT & Development: 77,600; +1,900
Data is based on the most recent 12 months available, through February 2022 (Data published April 2022 and reports created on April 6, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.