World Business Chicago tracks indicators from month to month to gauge the strength of several aspects of Chicago’s economy, including employment in major sectors, residential and office real estate data, price and purchasing indexes, freight demand, and auto and truck sales. Note: employment data refers to payroll job estimates for the city of Chicago and is not adjusted for seasonality.
Key trends evident this month include:
- New hires in the Midwest increased from 1,139,000 to 1,161,000, a 1.9% percent year-over-year improvement since May 2014. Furthermore, the Cook County unemployment insurance claims have decreased year-over-year by 6.1% since June 2014.
- The Consumer Confidence Index increased by 16.2 percentage points since June 2014.
- Median home sales price increased by 6.8% since May 2014. In the same time period, the number of home sales increased by 10.1%.
- New private residential building permits in the City of Chicago increased by 14.5% year-over-year. From January to May 2015, 3,004 building permits were issued, compared to 2,624 permits issued during same period in 2014.
- Passenger volume for O’Hare and Midway Airports grew by 647,188 and 12,211 tonnes; a respective 7.9% and 9.3% year-over-year change since May 2014.
These and other trends are illustrated in this month’s Chicago by the Numbers.