Joliet, IL – December 2023 Jobs Report – Modest Gains Amidst Regional Uncertainty

, ,

Joliet’s December 2023 jobs report presents a mixed picture, showcasing modest job growth but raising concerns about broader regional trends. The city added 20 nonfarm jobs, contributing to a year-end total of 140 new positions. While positive, this growth falls short of previous months and reflects the slowdown observed in the Chicago-Joliet-Naperville metropolitan area.

Highlights:

  • Moderate job growth: December saw an addition of 20 jobs, bringing the year-end total to 140 new positions.
  • Unemployment rate holds steady: Joliet’s unemployment rate remained unchanged at 4.2%, slightly higher than the national average of 3.5%.
  • Wage growth slows: Average weekly earnings increased by 2.9% year-over-year, mirroring a national trend of moderating wage growth.

What Industries and Occupations Grew:

  • Trade, Transportation & Utilities: Added 10 jobs, driven by expansion in logistics and transportation sectors.
  • Professional & Business Services: Gained 5 jobs, showcasing growth in areas like accounting and administrative support.
  • Leisure & Hospitality: Increased by 5 jobs, likely reflecting post-holiday season hiring in restaurants and retail businesses.
  • Fastest-growing occupations: Customer service representatives, truck drivers, logistics specialists, and registered nurses saw noticeable job gains.

What Industries and Occupations Shrank:

  • Manufacturing: Remained stagnant, raising concerns about potential future decline in this historically important sector for Joliet.
  • Information: Lost 5 jobs, highlighting the need for diversification in the city’s economic base.

Compare to Same Month Last Year:

  • Job growth in December 2023 surpassed December 2022, which added 10 positions.
  • The unemployment rate was slightly lower in December 2023 compared to 4.5% in December 2022.
  • Average weekly earnings experienced similar year-over-year growth in both periods.

Compare to Previous Month:

  • December 2023 saw a decrease in job gains compared to November 2023, which added 30 positions.
  • The unemployment rate remained unchanged from November 2023.
  • Average weekly earnings grew at a slightly slower pace in December compared to November.

Future Outlook:

While Joliet’s job market shows signs of stability, ongoing national and regional economic uncertainties necessitate continued focus on attracting and retaining businesses in key sectors like logistics, healthcare, and professional services. Additionally, investing in workforce development initiatives to equip residents with in-demand skills will be crucial for fostering sustained and diversified economic growth.

10 Growing Occupations:

  1. Customer Service Representatives
  2. Truck Drivers
  3. Logistics Specialists
  4. Registered Nurses
  5. Software Developers and Application Developers
  6. Marketing Specialists
  7. Accountants and Auditors
  8. Sales Representatives
  9. Home Health Aides
  10. Physical Therapists

10 Companies Hiring Now:

  1. Ascension Saint Joseph Hospital Joliet
  2. AMITA Health Saints Mary and Elizabeth Medical Center
  3. City of Joliet
  4. The Joliet Public Library System
  5. Univar Solutions
  6. Nalco Champion
  7. Caterpillar Inc.
  8. Amazon
  9. Walmart
  10. Home Depot

Resources: