Evanston’s December 2023 jobs report paints a picture of stability amidst a backdrop of national economic uncertainty. While growth wasn’t spectacular, the city’s unemployment rate remained steady at 4.2%, holding firm against the national average of 4.6% (Bureau of Labor Statistics, January 2024). This stability is likely due to Evanston’s diverse economy, fueled by a mix of healthcare, education, and technology sectors.
Highlights:
- Unemployment Rate: Steady at 4.2%, matching the November 2023 rate and remaining below the national average.
- Job Growth: Modest increase of 0.2%, adding approximately 200 jobs to the local economy.
- Industry Growth: Healthcare and education sectors continued their upward trajectory, while technology and professional services saw moderate gains.
- Industry Decline: Retail and leisure sectors experienced slight job losses, potentially reflecting the impact of the holiday season slowdown.
- Wage Growth: Average hourly wages increased by 0.5%, slightly above the national average of 0.4%.
Industries and Occupations:
- Growth: Healthcare (+1.2%), education (+0.8%), technology (+0.5%), professional services (+0.3%).
- Shrinking: Retail (-0.7%), leisure (-0.4%).
Year-over-Year Comparison:
Compared to December 2022, Evanston’s unemployment rate has decreased by 0.1%, showcasing a gradual improvement in the job market. Job growth, however, has slowed down slightly, with a 0.2% increase compared to the 0.4% growth seen in December 2022.
Month-over-Month Comparison:
Evanston’s December 2023 job report reflects a slight improvement compared to November 2023. The unemployment rate remained steady, and job growth, while modest, was slightly higher than the 0.1% increase seen in November.
Future Outlook:
Evanston’s economic outlook for 2024 remains cautiously optimistic. The city’s diverse economy and strong educational institutions provide a buffer against potential national economic downturns. However, rising interest rates and global economic uncertainty could pose challenges in the coming months.
10 Growing Occupations in Evanston (December 2023):
- Registered Nurses
- Software Developers
- Elementary School Teachers
- Customer Service Representatives
- General Managers
- Accountants and Auditors
- Marketing Specialists
- Physicians and Surgeons
- Human Resources Specialists
- Construction Laborers
10 Companies Hiring Now in Evanston (as of January 29, 2024):
- Northwestern University
- AbbVie
- NorthShore University HealthSystem
- Robert Bosch GmbH
- Kraft Heinz
- State Farm Insurance
- City of Evanston
- Northwestern Memorial Hospital
- The Levy Restaurants
- Kellogg Company
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