Workforce News

 

Stay up to date with workforce trends and information on our region’s economic outlook.

Solid Job Market is Forecasted for the Third Quarter of 2020 for Chicago-Naperville- Joliet, IL-IN-WI MSA 

Employers in 18 percent of Midwest businesses surveyed expect to grow payrolls in the forthcoming quarter, while 9 percent anticipate a decrease and 63 percent expect no change, resulting in a Net Employment Outlook of +9%. Once the data is adjusted to allow for seasonal variation, the Outlook declines considerably in comparison with the previous quarter and last year at this time, and is the weakest reported in 10 years. Hiring prospects in the Midwest Education & Health Services sector remain relatively stable when compared with the prior quarter. A moderately weaker Outlook is reported in the Midwest’s Other Services sector in comparison with Quarter 2 2020, while considerably weaker hiring sentiment is reported in five sectors: Financial Activities, Government, Nondurable Goods Manufacturing, Professional & Business Services and Wholesale & Retail Trade. In the remaining five Midwest industry sectors, employers report a sharp quarter-over-quarter decline in hiring plans: Construction, Information, Leisure & Hospitality, Durable Goods Manufacturing and Transportation & Utilities.