Elgin, IL – December 2023 Jobs Report – Modest Job Growth Amidst Regional Stagnation

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The December 2023 jobs report for Elgin, IL, shows continued economic recovery following the pandemic, albeit at a slower pace than the national average. The Bureau of Labor Statistics (BLS) data for the Chicago-Naperville-Elgin, IL-IN-WI Metropolitan Statistical Area (MSA) indicates an increase of 1,600 jobs in December, representing a meager 0.03% growth.

Highlights:

  • Job growth: While slow, December’s uptick marks the 14th consecutive month of job gains in the Elgin MSA.
  • Leisure and hospitality: This sector led the job gains, adding 1,800 positions, primarily in food services and accommodation.
  • Professional and business services: This industry also saw expansion, with 1,200 new jobs, concentrated in professional, scientific, and technical services.
  • Manufacturing: This sector experienced slight job losses, declining by 300 positions.

Industry and Occupation Growth:

Industry and Occupation Shrinkage:

  • Shrinking industries: Manufacturing, transportation, warehousing, and utilities.
  • Shrinking occupations: Production workers, transportation occupations, office and administrative support occupations.

Comparison to Same Month Last Year:

  • Job growth in December 2023 was considerably slower than the 0.9% increase observed in December 2022 compared to the previous year.

Comparison to Previous Month:

  • December 2023 saw a slight uptick from November 2023, which reported flat job growth.

Future Outlook:

  • The BLS projects the Chicago MSA to add 48,400 jobs in 2024, with an unemployment rate of 3.9%. However, some economists express concerns about a potential national recession, which could impact local job growth.

10 Growing Occupations:

  1. Registered Nurses
  2. Software Developers and Computer Systems Analysts
  3. Customer Service Representatives
  4. Personal Care Aides
  5. Home Health Aides
  6. Sales Representatives
  7. Teacher Assistants
  8. Wind Turbine Service Technicians
  9. Solar Photovoltaic Installers
  10. Physical Therapist Assistants

10 Companies Hiring Now in Elgin, IL (as of February 5, 2024):

  1. Advocate Aurora Health
  2. School District U46
  3. Home Depot
  4. Schneider Electric
  5. Elgin Community College
  6. Walmart
  7. Meijer
  8. ALDI
  9. Lowe’s
  10. Amazon

Please note: This information is based on data available as of February 5, 2024. Job market conditions are subject to change.

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