Throughout the Chicago area, businesses in sectors such as retail, manufacturing and hospitality report a shortage of job applicants. With a tight labor market spurring competition for front-line and entry level workers, the number of job postings has soared to record levels. Meanwhile, many area employers are boosting wages to attract and retain workers.
Chicago Market Snapshot
JOBS ADDED: +6,900 month over month
UNEMPLOYMENT RATE: 4.5%, equal to February 2022
WAGE CHANGE: +3.8% year over year
- Compensation costs for private industry workers increased 3.9% YoY in the Chicago area.
- Leisure and hospitality (+65,700 jobs) had the largest payroll gains YoY among all sectors.
- The unemployment rate in the U.S. is 3.6%, compared to 4.5% in the Chicago area.
*Note: Most recent data available.
- U.S. BLS, Local Area Unemployment Statistics
- Emsi, June 3, 2022
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