EconoFacts
May 22, 2013 - Home prices in 55 Illinois counties were up in April compared to the year before, says the National Association of REALTORS. Median existing home sale prices statewide leveraged a 7.7 percent increase compared to sales from a year ago. While an increase, it did not keep up with the national trend, which weighed in at an 11 percent increase.
May 22, 2013 - The number of unemployed people living in the United States but born in other countries decreased sharply in 2012, according to figures from the U.S. Bureau of Labor Statistics. The unemployment rate for foreign-born workers in the United States was 8.1 percent in 2012, which is down by more than 10 percent from 2011.
May 22, 2013 - Nearly 117,000 American workers lost their jobs as employers initiated 1,199 mass layoff events in April, says the U.S. Bureau of Labor Statistics. The Bureau says last month's events affected 11,000 fewer employees than similar actions in March.
May 16, 2013 - The latest jobs report from the Illinois Dept. of Employment Security puts the state's April 2013 unemployment rate at 9.3 percent, which is down by two-tenths of a percentage point from March 2013. Using revised estimates from previous reports, a month-to-month comparison shows the state shed 2,000 jobs last month with the bulk of those loses coming from the construction industry.
The report also revised the April 2012 unemployment rate to 8.8 percent, which is up by one-tenth of a percentage point than previously announced. Final figures from the same time period show there were actually 36,400 more jobs than what was reported initially.
May 16, 2013 - Driven by decreases in fuel costs, the Consumer Product Index (CPI) dropped 0.4 percent in April, says the U.S. Bureau of Labor Statistics. In the Midwest alone, fuel prices in April were two percent lower than the month before. In a seperate report, the Bureau cited the declining CPI as one of the reasons the hourly earnings average went up by half of a percent in the same timespan.
May 16, 2013 - The number of new single-family home construction projects dropped by more than 16 percent in April compared to March, according to early estimates by the U.S. Census Bureau.
May 15, 2013 - Driven by a 2.5 percent drop in fuel costs, finished goods slipped more than half a percent in April on the Producers Price Index, according to figures from the U.S. Bureau of Labor Statistics.
May 14, 2013 - The price index for goods imported to the United States dropped in April, but so too did the value of the nation's exports. Imports dropped by one half of one percent last month, according to the U.S. Bureau of Labor Statistics. That loss was outweighed by the 0.7 percent drop in the exports index. Fuel imports are down nearly eight percent compared to the same time last year.
May 13, 2013 - Retail and food receipts were slightly higher in April, according to the latest report from the U.S. Census Bureau.
May 3, 2013 - Nonfarm employers nationwide added roughly 165,000 positions in April, but that wasn't enough to offset the number of potential employees seeking new jobs, according to data released by the U.S. Bureau of Labor Statistics. The unemployment rate remained at 7.5 percent.
May 2, 2013 - The U.S. imported $38.8 billion more than it exported in March, says the U.S Bureau of Economic Analysis. The Bureau says the deficit is lower than it was in February but that exports were off by about $1.5 billion.
May 2, 2013 - Big gains in manufacturing productivity and output drove the national nonfarm business productivity to gain ground in the first quarter of 2013, according to figures released by the U.S. Bureau of Labor Statistics.
May 1, 2013 - Construction spending dropped nearly two percentage points in March compared to figures in February, according to the U.S. Census Bureau.
April 30, 2013 - Housing vacancy rates dipped slighty in the first quarter of 2013, says the U.S. Census Bureau.
April 30, 2013 - Employment costs rose less than half of a percent in March, says the U.S. Bureau of Labor Statistics. This comes a day after a report showed personal and disposable incomes had increased by roughly the same amount.
April 29, 2013 - Personal and disposable incomes increased slightly in March, says the U.S. Bureau of Economic Analysis. Economists had expected the slowdown in job recovery to cause the report to show incomes had decreased or stayed the same.
April 29, 2013 - Although Illinois's economy shrank last month compared to its neighboring states, manufacturing output throughout the Midwest as a whole was up in March, says the Federal Reserve Bank of Chicago.
April 26, 2013 - Preliminary data suggests the nation's Growth Domestic Product increased by 2.5 percent in the first quarter of 2013, says the U.S. Bureau of Economic Analysis.
April 26, 2013 - Illinois was the only state in the Midwest to lose economic growth in March, according to a chart provided by the Federal Reserve Bank of Chicago.
April 25, 2013 - Unemployment rates rose in seven of the state's 12 metropolitan areas in March compared to the year before, says the Illinois Dept. of Employment Security. Decatur (+1.4%), Danville (+1.1%), and Peoria (+0.9%) were the hardest hit areas. However rates also fell by at least half of a percentage point in the Metro-east (-0.9%) and the Quad Cities (-0.5%).
The same report included revisions that show there were actually at least 1,000 more jobs than initially reported in Bloomington-Normal (+1,400), Champaign-Urbana (+2,500), Chicago (+17,600), the Quad Cities (+4,600), Lake (+10,300), and Springfield (+1,200).
Similarly, the U.S. Bureau of Labor Statistics reports there were 127.939 jobs lost nationwide in 1,337 mass layoff events last month. The Labor Department also reported today that initial claims for unemployment benefits dropped off by roughly 16,000 last week.
April 25, 2013 - A new report from the Congressional Budget Office says the Federal Highway Trust Fund, which receives motor fuel tax receipts to finance transportation construction projects, will be bankrupt by 2015. The nonpartisan group says this could be circumvented if Congress were to raise motor fuel taxes by 10 cents, cut the fund's spending by 8 cents on the dollar, or redirect other revenues into the fund.
April 24, 2013 - New manufacturer orders dropped nearly six percent in March, says the U.S. Census Bureau.
April 22, 2013 - Economic activity lessened in March, says the Federal Reserve Bank of Chicago.
April 22, 2013 - The Illinois Association of Realtors reports the state's home values increased 13.6 percent in March compared to the same time in 2012.
April 18, 2013 - Illinois's nonfarm payrolls shed 17,800 jobs in March alone, according to new figures from the state's Dept. of Employment Security. The construction (-1,300), trade, transportation, and utilities (-9,000), professional and business services (-5,800), and leisure and hospitality (-4,900) industries experienced the more substantial losses. Despite the setbacks, the Department says the unemployment rate remained at 9.5 percent.
April 17, 2013 - Nearly 47 percent more new housing construction projects started in March compared to the year before, according to the latest figures from the U.S. Census Bureau.
April 17, 2013 - Real average hourly earnings rose slightly between February and March, according to the U.S. Bureau of Labor Statistics. Economists suggest the bump was provoked by a decrease in the Consumer Price Index during the same time period. Nevertheless, a seperate report from the Congressional Budget Office says the number of Americans relying on food stamps has nearly doubled to 47 million since 2007. The non-partisan budget forecasters say they believe that number will continue to rise throughout most of 2013 before tappering off again.
April 9, 2013 - Wholesale inventories were down slightly in February while sales were up nearly two percent compared to January, says the U.S. Census Bureau. Sales are up by more than 3.5 percent compared to a year ago.
April 9, 2013 - The number of job openings increased in February while the hiring and seperation rates remained relatively unchaged, says the U.S. Bureau of Labor Statistics.
April 5, 2013 - The nation's nonfarm payroll added roughly 88,000 jobs while nearly 11.7 million people were unemployed in March, says the U.S. Bureau of Labor Statistics. The latest figures put the unemployment rate at 7.6 percent.
April 5, 2013 - U.S. exports increased in February, which left the nation's trade deficit at $43 billion, which is down by $1.6 billion from the same time in 2012, according to the U.S. Dept. of Commerce.
April 3, 2013 - Passenger vehicle sales were off slightly in March but light truck sales were up by nearly nine percent, according to Motor Intelligence.
April 3, 2013 - An advanced employment report by ADP shows the U.S. economy added 158,000 jobs in March. That is a slower job growth pace than February, but stronger than March 2012.
April 1, 2013 - Conflicting figures on the U.S. manufacturing sector were released today, but both show growth in the industry during March. Figures from Markit showed manufacturing growth outpaced growth in February while the Institute for Supply Management says growth was down slightly compared to last month.
March 29, 2013 - The Midwestern United States economy improved in January, but economists at the Federal Reserve Bank of Chicago don't expect Illinois's economy to keep up with growth in neighboring states.
March 29, 2013 - Personal incomes were up by more than a percent in February, according to a report from the U.S. Bureau of Economic Analysis. However the gains were not sufficient to offset the four percent drop reported in January.
March 28, 2013 - Over-the-year unemployment rose in ten of the state's 12 metropolitan areas in February, says the Illinois Dept. of Employment Security. The Quad Cities area and East St. Louis were the two regions exempt from rate bumps that, in many cases, weighed in at more than half of a percentage point. Danville (+1.5%), Peoria (+1.4%), and Chicago (+1.2%) experienced the greatest unemployment rate jump.
The over-the-month unemployment rate in Decatur dropped three-tenths of a percentage point despite the region's nonfarm payroll shrinking by more than 2,300 jobs since January. Decatur has lost nearly 3,500 jobs since the start of winter 2012.
The Department says the unemployment rate jumps have been caused by unemployed workers restarting their job search.
March 27, 2013 - Consumer confidence slipped during the first part of March, according to measurements taken by The Conference Board.
March 27, 2013 - Personal incomes grew less in Illinois than in most other states during 2012, says the U.S. Bureau of Economic Analysis.
March 26, 2013 - New residential sales were down by roughly five percent in February, says the U.S. Census Bureau.
March 26, 2013 - A $13.3 billion increase in demand for transportation equipment drove new orders for manufactured goods up by more than five percent in February, according to an advance report from the U.S. Census Bureau.
March 22, 2013 - Illinois added 12,600 jobs to its nonfarm payroll in February but an increase in the number of people seeking employment drove the state' unemployment rate to 9.5 percent, says the Illinois Dept. of Employment Security. The announcement marks the highest unemployment rate since December 2011.
Similarly, the U.S. Bureau of Labor Statistics received reports that nearly 135,500 employees lost their jobs in 1,422 mass layoff events last month.
March 20, 2013 - Unemployment among veterans labeled by the Dept. of Labor as "Gulf War-era II veterans" dropped to 9.9 percent in 2012, according to the U.S. Bureau of Labor Statistics.
March 15, 2013 - All of the state's Metropolitan areas saw unemployment rates jump by more than one percentage point in January, according to figures released by the Illinois Dept. of Employment Security. Some of the hardest hit areas were Decatur (+2.2 percentage points, now 14.0 percent) and East St. Louis (+2.0 percentage points, now 10.3 percent).
The figures also showed six of the state's twelve Metropolitan areas saw an increase in the number of jobs comapred to a year ago January, but only two had corresponding drops in their over-the-year unemployment rate. Seven of the measured regions have unemployment rates of more than 10 percent.
In related employment news, the U.S. Bureau of Labor Statistics said real average hourly earning for all employees fell by 0.6 percent between January and February.
March 13, 2013 - January sales were off slightly compared to the end of 2012, says the U.S. Census Bureau.
March 13, 2013 - U.S. import prices continued to rise at a faster pace than exports, according to the latest report from the U.S. Bureau of Labor Statistics.
March 12, 2013 - Private sector employers spent just under $29 an hour on employee wages and benefits in December, according to the Bureau of Labor Statistics. Of that, roughly 30 percent was devoted to employee benefits. This at a time when the seperations and hiring rate have virtually balanced one another out nationwide leaving nearly 3.7 million positions vacant.
March 8, 2013 - Federal deficits for fiscal year 2013 increased by $200 billion in February, according to the Congressional Budget Office.
March 8, 2013 - Revised estimates for the December nonfarm payroll by the Illinois Dept. of Employment Security show there were roughly 55,000 more nonfarm jobs than previously reported. Those revisions boosted December employment numbers in the fields of trade, transportation, and utilities (+23,500), government (+6,700), educational and health services (+6,600), and a category the department calls "other services" (+12,300). The revisions also showed there were actually 11,100 fewer jobs than previously reported.
Despite the increases provided by the revisions, the department said Illinoisans resumed their job search in January, which raised the state's unemployment rate by three-tenths percentage points to 9 percent. Meanwhile, the U.S. Bureau of Labor Statistics says the national unemployment rate for February decreased to 7.7 percent after employers added 236,000 jobs.
March 7, 2013 - Imports continued to outweigh exports in January, according to the U.S. Bureau of Economic Analysis, as the trade deficit grew by $6.3 billion since December. The nation's trade deficit now stands at $44.4 billion.
March 7, 2013 - The number of hours worked and output increased in the fourth quarter of 2012, but those two gains drove down the nation's productivity rate by 2.5 percent, according to the U.S. Bureau of Labor Statistics.
March 6, 2013 - Economic conditions loosened in recent weeks, according to measurements taken by the Federal Reserve Bank of Chicago - the same time mortgage applications increased by roughly 14 percent.
March 6, 2013 - On the eve of Illinois's first unemployment reports since January, the monthly ADP National Employment Report shows employers added roughly 198,000 jobs to the non-farm payroll in February. Roughly 40 percent of those positions were created by small businesses.
March 1, 2013 - Personal incomes dropped by four percent in January, according to the U.S. Bureau for Economic Analysis. The sudden drop offset gains posted in the closing months of 2012. The report also showed a decrease in wages and salaries for private sector employees.
February 26, 2013 - New residential sales were up by more than 28 percent in January compared to the year before, says the U.S. Census Bureau. The average sales price of new homes was about $286,300. This comes at the same time the S&P/Case-Shiller Home Price Index showed prices increased by 7.3 percent in 2012.
February 26, 2013 - Nearly 135,000 people lost their jobs for at least 30 days in 1,328 mass layoff events in January, says the U.S. Bureau of Labor Statistics
February 22, 2013 - Volunteerism in the United States shrank slightly in 2012, according to the U.S. Bureau of Labor Statistics. The Bureau estimates 26.5 percent (roughly 64.5 million people) volunteered at least once between September 2011 and September 2012.
February 22, 2013 - The U.S. Bureau of Economic Analysis today released data showing Gross Domestic Product rates in all of the nation's Metropolitan Statistic Areas from 2001 thru 2010. Six of Illinois's eleven MSAs saw their local GDPs increase during that time span. Peoria proved to be the most productive region in Illinois. The Bloomington-Normal and Champaign-Urbana areas suffered losses.
February 21, 2013 - Real average hourly earnings were virtually unchanged in January, according to figures from the U.S. Bureau of Labor Statistics.
February 21, 2013 - Prices throughout the Midwest remained lower in all categories of the Midwest Consumer Price Index Card than the rest of the national averages in January. The price of gasoline was reportedly between four to five percent lower than it was at the start of 2012, which has correspondingly driven down private transportation costs. In Chicago, those prices dropped between five to six percent.
February 20, 2013 - The growing cost of food outweighed the shrinking energy costs in January, according to the U.S. Bureau of Labor Statistics's producer price index.
February 20, 2013 - The number of building permits issued was up slightly in January, according to figures from the U.S. Census Bureau. However the number of single-family homes started last month was down 8.5 percent from December.
February 19, 2013 - Home builder confidence on the NAHB/Wells Fargo Housing Market Index was relatively unchanged for the fourth consecutive month.
February 15, 2013 - Good farmland values throughout Illinois are expected to go up roughly 12 percent this year, says the Federal Reserve Bank of Chicago.
February 15, 2013 - Illinois's foreclosure rate jumped to the third highest in the nation in January behind Florida and Nevada, according to a survey from RealtyTrac.
February 14, 2013 - The cost of fuel imports were up in January but lower than the same time period in 2011, according to the Import and Export indexes assembled by the U.S. Bureau of Labor Statistics. The same report showed agricultural exports are up 10 points over the last 12 months.
February 14, 2013 - Nearly 320,000 workers were seperated from their jobs in 1,674 mass layoff events in the fourth quarter of 2012, says the U.S. Bureau of Labor Statistics. That brings the number of events for 2012 to more than 6,000, which is lowest amount in at least five years. At the same time, there were nearly 3.6 million job openings.
February 8, 2013 - An increase in exports and decrease in imports lead to a small trade deficit in December than November, says the U.S. Bureau of Economic Analysis.
February 8, 2013 - Federal tax receipts were up by around $96 billion, which help cut the budget deficit for the first quarter of fiscal year 2013, according to the Congressional Budget Office.
February 1, 2013 - Mitsubishi, Mazda, and Suzuki were the only light vehicle manufacturers not to sell more cars in January than the year before, according to figures kept by Motor Intelligence. Sales as a whole were up by more than 14 percent. This comes at the same time Markit Economics released a report claiming the manufacturing industry had its best month in January since 2010.
February 1, 2013 - The national unemployment rate moved to 7.9 percent after roughly 157,000 jobs were added to the nonfarm payroll in January, according to preliminary data from the U.S. Bureau of Labor Statistics.
January 31, 2013 - Wages and salaries in the U.S. rose by 1.9 percent increase nearly across the board in 2012, according to the U.S. Bureau of Labor Statistics. Meanwhile, the Dept. of Commerce says Americans had more personal and disposable income in December because of bonuses and dividends.
January 31, 2013 - The Federal Reserve Bank of Chicago now says economic conditions in a few of the midewestern states improved in December.
January 30, 2013 - Small business added more jobs in January than it has in over a year, according to advanced statistics in the ADP National Employment Report. However the same report shows job growth overall is slower than it was a year ago.
January 30, 2013 - Preliminary estimates from the U.S. Bureau of Economic Analysis show the national Gross Domestic Product dropped in the fourth quarter of 2012. This is the first time the GDP has not increased since the beginning of the recession's recovery.
January 29, 2013 - Home prices rose throughout most of the country as 2012 began to wind down, according to the S&P Down Jones Index. However prices in Chicago went against the trend and dropped more than a percent. Chicago was one of three metropolitan areas in the nation to see homes lose value.
January 28, 2013 - Manufacturing output in the Midwest grew at a higher rate than the rest of the nation, says the Federal Reserve Bank of Chicago.
January 25, 2013 - BECAUSE OF ILLINOIS'S INABILITY TO ADDRESS GROWING PENSION OBLIGATIONS, STANDARD & POOR'S HAS LOWERED ILLINOIS BOND RATING FROM "A" TO "A-" WITH A NEGATIVE OUTLOOK.
January 25, 2013 - One week after releasing figures that showed the state's unemployment rate held steady at 8.7 percent last month, the Illinois Dept. of Employment Security today showed unemployment rates in 11 of the 12 metropolitan areas in the state had increased between November and December. Decatur (+1.6%), Moline-Rock Island (+0.7%), Lake County (+0.7%), and Rockford (+0.7%) were the hardest hit areas. Metro east remained at 8.3 percent.
These new rates were lower than figures from December 2011 in all but three - Danville (+0.1), Decatur (+1.7%), and Peoria (+0.1%) - of the statistics areas.
January 25, 2013 - Nearly 187,137 Americans were involved in 1,973 mass layoff events in December, according to calculations by the U.S. Bureau of Labor Statistics. That's a lower rate than November when seasonal adjustments come into play, the Bureau says.
January 22, 2013 - Existing home sales slipped in December, according to the National Association of Realtors. However the Association says sales in 2012 were up and prices increased at a rate comparable to 2005. In Illinois, home sales were up more than 12 percent compared to the year before and prices rose at an average rate of 5.6 percent.
January 22, 2013 - A slow down in production dampened economic growth in December<