Evanston, IL – December 2023 Jobs Report – A Steady Pace Amidst National Uncertainty

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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):

  1. Registered Nurses
  2. Software Developers
  3. Elementary School Teachers
  4. Customer Service Representatives
  5. General Managers
  6. Accountants and Auditors
  7. Marketing Specialists
  8. Physicians and Surgeons
  9. Human Resources Specialists
  10. Construction Laborers

10 Companies Hiring Now in Evanston (as of January 29, 2024):

  1. Northwestern University
  2. AbbVie
  3. NorthShore University HealthSystem
  4. Robert Bosch GmbH
  5. Kraft Heinz
  6. State Farm Insurance
  7. City of Evanston
  8. Northwestern Memorial Hospital
  9. The Levy Restaurants
  10. Kellogg Company

Sources: