Peoria, IL – December 2023 Jobs Report – Mixed signals amid national growth

By /

The December 2023 jobs report for Peoria, IL, presents a mixed picture compared to both national and statewide trends. While the U.S. economy added jobs and Illinois saw increases in most metro areas, Peoria’s job market remained largely flat.

Overview:

  • Total non-farm payroll jobs in Peoria remained unchanged in December compared to November 2023, at 172,200.**
  • The Peoria Metropolitan Statistical Area’s unemployment rate rose to 4.8% in December, up from 4.0% in November.**
  • This stands in contrast to the national unemployment rate of 3.5% and Illinois’ statewide rate of 4.2%.**

Highlights:

  • While overall job numbers stayed flat, there were gains in some sectors, including:**
    • Government
    • Retail Trade
    • Mining and Construction
    • Manufacturing
    • Wholesale Trade
    • Other Services
  • However, these gains were offset by declines in:**
    • Professional and Business Services
    • Transportation, Warehousing, and Utilities
    • Information
    • Leisure and Hospitality
    • Educational and Health Services
    • Financial Activities

Comparison to previous periods:

  • Compared to December 2022, Peoria’s non-farm payroll jobs remained essentially unchanged.**
  • The unemployment rate for the Peoria Metropolitan Statistical Area rose 0.9 percentage points year-over-year.**
  • This stands in contrast to Illinois’ statewide job growth of 1.1% and unemployment rate decrease of 0.2 percentage points over the same period.**

Future outlook:

  • The future outlook for Peoria’s job market is uncertain.**
  • National economic forecasts predict moderate growth in 2024, which could benefit Peoria.**
  • However, the city’s ongoing challenges in certain sectors, such as professional and business services, could dampen hiring.**

10 growing occupations in Peoria:

10 companies hiring now in Peoria:

Resources:

Scroll to Top