Illinois Economic Review - December 2016

January 9, 2017

Illinois Economic Review - December 2016

Authors

The Monthly Illinois Economic Review contains information on national, statewide, and local economic performance by measuring job growth, unemployment, and business activity. This information is compiled by IGPA Economist Geoffrey Hewings, director of the Regional Economics Applications Laboratory at the University of Illinois at Urbana-Champaign with assistance from Yizhou Zhang and Whayoung Jung 

  1. By September 2016, Chicago has recovered 385,200 jobs, or 137.12% to all the jobs it lost during the recession.
  2. The 12-month forecast shows that Illinois is likely to experience an employment increase between 19,000 and 22,800 by November 2017. The greatest increase is likely to occur in Professional & business services (25,000 more jobs), while the largest decline would happen for Trade, transportation & utilities (11,500 less jobs). 
  3. The state of Illinois now has a net gain of 40,300 jobs since the beginning of the recession in December 2007. Given Illinois’ economic performance of late, recovery to the prior peak (adjusted for changes in labor force participation and population growth) recorded in 2000 within five years would seem feasible.

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Research Area: Economic Policy

Policy Initiative: none

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