Q1 2017 Economic Developments Charts
2017 Economic Indicators
University of Illinois Flash Index
Source: Giertz, J.F., The Institute of Government and Public Affairs at the University of Illinois
The U of I Flash Index for January 2017 rose to 104.4, up from 104.3 in December, indicating that the Illinois economy continues its modest growth. An index score over 100 indicates economic growth, and a slight increase indicates a slightly quicker pace of growth than the prior month.
Source: U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics
The unemployment rate for Lake County ticked up to 5.6% (not seasonally adjusted) in December, which is even with the unemployment rate with the state of Illinois, and, unusually, slightly higher than the rate for the metro Chicago region as a whole.
Labor Force & Employment
Source: Bureau of Labor Statistics
The number of unemployed Lake County residents increased by 2,325 people to 20,649 from December 2015 to December 2016, and during that same time period, Lake County’s total labor force remained basically flat.
Average Weekly Wages
Source: U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages
According to the most recent data available, average weekly wages in Lake County remained roughly flat from Q2 2015 to Q2 2016, posting an increase of only .2%. Wage growth was also sluggish for the same period in DuPage (.8%) and Kenosha Counties (.6%), and increased slightly in Cook (3.3%) and McHenry (5.1%) Counties.
Source: CoStar, accessed on March 2, 2017.
Percent Change From Preceding Period in Real Gross Domestic Product
Source: U.S. Bureau of Economic Analysis, accessed on February 28, 2017