Q1 2017 Economic Developments Charts

2017 Economic Indicators

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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.


Unemployment Rate

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.

Vacancy Rates

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

 

 

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