Seasonally adjusted real average hourly earnings fell 0.3 percent from February to March; the result of unchanged average hourly earnings and a 0.2 percent increase in inflation (as measured by the Consumer Price Index for All Urban Consumers).
The Chicago Metro Area Consumer Price Index for All Urban Consumers (CPI-U) increased from 226.22 last month to 228.78, meaning goods and services that cost $100.00 in the 1982-84 base period cost an additional $128.78 in March 2014.
Mayor Rahm Emanuel and Choose Chicago, along with the City’s Department of Cultural Affairs and Special Events (DCASE), World Business Chicago (WBC), and the Illinois Office of Tourism, showcased Chicago’s technology, music, and film industries at this year’s South By Southwest (SXSW) conference last month in Austin, TX with Chicago Made. The effort focused on Chicagoans who have made an indelible mark on their respective industries, and demonstrated that Chicago is an ideal location to start a business or career.
World Business Chicago (WBC) recently launched Chicago Anchors for a Strong Economy (CASE). The new program will strengthen Chicago’s economy by building ties between the city’s largest “anchor” institutions – such as hospitals and universities – and its neighborhood-based businesses. These partnerships will grow local firms, increase community and neighborhood vitality, strengthen the region’s business-to-business platform, generate jobs, and help grow the regional economy.
Mayor Rahm Emanuel recently joined Method officials and architect William McDonough to unveil designs for Method’s first manufacturing facility in the U.S., located in the Pullman neighborhood on Chicago’s South Side. The new facility is expected to bring nearly 100 new jobs to the city of Chicago, and Method plans to recruit local residents throughout the hiring process for the plant’s workforce.
World Business Chicago tracks indicators from month to month to gauge the strength of several aspects of Chicago’s regional economy, including employment in major sectors, residential and office real estate data, price and purchasing indexes, freight demand, and auto and truck sales.
The University of Illinois-Urbana Champaign is working with the Committee on Institutional Cooperation to survey ~500,000 students at Big Ten universities to gauge perceptions of startups and innovation in Chicago and the Midwest.
This morning, the US Bureau of Labor Statistics (BLS) released preliminary February 2014 unemployment rates for all Metropolitan Statistical Areas (MSAs).
February 2014 figures from the Bureau of Labor Statistics Job Openings & Labor Turnover Survey (JOLTS), which tracks job openings, hires, and separations (quits, layoffs and discharges, and other separations including retirement).
This morning, the Federal Reserve Bank of Chicago released February 2014 figures for its Midwest Economy Index (MEI), a weighted average of 129 indicators designed to measure nonfarm business activity in the Midwest (IL, IN, MI, WI, IA).