Champaign-Urbana, the home of the University of Illinois Urbana-Champaign, defied the statewide trend of job gains in December 2023, shedding jobs for the first time since June. Despite this, the unemployment rate held steady, suggesting a complex economic picture for the region.
Highlights:
- Total non-farm jobs: Lost 200 jobs (-0.14%) from November to December 2023.
- Unemployment rate: Remained unchanged at 3.8% from November to December 2023.
- Labor force participation: Increased slightly to 62.5% in December 2023.
Industries and Occupations:
Grew:
- Education and health services: Added 100 jobs (+0.3%).
- Leisure and hospitality: Added 50 jobs (+0.2%).
Shrank:
- Professional and business services: Lost 300 jobs (-1.1%).
- Manufacturing: Lost 200 jobs (-0.7%).
- Government: Lost 100 jobs (-0.3%).
Compared to:
- Same month last year: Total non-farm jobs decreased by 600 (-0.5%) from December 2022.
- Previous month: Job losses followed a period of relative stability, with no change in November 2023.
Future Outlook:
The Champaign-Urbana job market’s near-future remains uncertain. While national economic indicators suggest continued growth, local factors like ongoing supply chain disruptions and potential university budget cuts could dampen hiring in some sectors.
10 Growing Occupations (Champaign-Urbana, December 2023):
- Registered nurses
- Software developers
- General and operations managers
- Physician assistants
- Marketing specialists
- Accountants and auditors
- Truck drivers
- Elementary and middle school teachers
- Home health aides
- Retail salespersons
10 Companies Hiring Now (Champaign-Urbana, December 2023):
- Carle Foundation Hospital
- University of Illinois Urbana-Champaign
- Caterpillar Inc.
- ADM
- OSF Healthcare
- Abbott Laboratories
- Busey Bank
- Amazon
- Target
- Walmart
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