Overall unemployment rate moved down to 4.3% with the biggest shift in Transportation & Utilities, which gained 12,000 roles, based on the most recently available information published in December 2022.
Total employment in the Chicago-Naperville-Elgin, IL-IN-WI market rose by 7,340 jobs in October and the unemployment rate decreased compared to the prior month by 10 bps to 4.3%. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Chicago-Naperville-Elgin, IL-IN-WI unemployment rate is 90 bps above the national rate which is a negative sign.
- Unemployment in the market is 60 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October versus prior month by 2.5% and are up 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: 976,600; +12,000
- Business Services: 867,800; +8,400
- Education & Healthcare: 745,200; +11,400
- Government: 537,500; -1,500
- Restaurants & Hotels: 467,500; -1,800
- Manufacturing: 415,900; +2,000
- Financial Services: 318,700; +400
- Construction, Mining: 195,500; +1,400
- Other Jobs: 188,600; +400
- IT & Development: 77,900; -100
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.