Economic Indicators 1Q 2012
DuPage County Economic Indicators First Quarter 2012 Indicator
Current Rate Or Change
Sales Tax Receipts (percent change)
Trend
-‐0.05%
Unemployment Rate
7.2%
Chicago Federal Reserve Midwest Manufacturing Index
92.2
Office Space Vacancy Rate
17.1%
Highlights: Sales Tax Receipts: DuPage County total sales tax receipts were $318.7 million in fourth quarter of 2011 compared to $318.8 million for the fourth quarter of 2010. This is an decrease of 0.05%. Municipal tax receipts were $45 million. Sales were strongest in Auto & Filling Stations, Agriculture & All Others, and Drugs & Misc. Retail business categories in DuPage County. Unemployment: The March 2012 unemployment rate of 7.2% is lower than the first quarter of 2011. The DuPage County rate remains below the National, State, and MSA rates. Chicago Fed Midwest Manufacturing Index: The Index increased slightly to 92.2, compared to 84.4 for first quarter 2011. Commercial Vacancy Rates: The office vacancy rate increased slightly and the industrial vacancy rate decreased from fourth quarter 2011.
Industrial Space Vacancy Rate
10.7%
Sales Tax Receipts County Cook DuPage Kane Lake McHenry Will
th
2010 – 4 Quarter $1,229,535,501.01 $318,874,158.30 $104,732,060.93 $176,996,264.94 $61,875,752.30 136,281,067.91
Source: Illinois Department of Revenue
th
2011 – 4 Quarter $1,241,715,888.30 $318,710,424.74 $106,109,783.74 $184,650,632.10 $59,770,124.78 $140,071,553.13
4Q 2010 – 4Q 2011 % Change 0.99% -‐0.05% 1.32% 4.32% -‐3.40% 2.78%
Portion retained by State per person $121.22 $211.39 $123.85 $169.90 $120.98 $126.71
Unemployment Rate
Regional County Historical Unemployment Comparison
DuPage County Historical Unemployment Rate 14%
12.0%
12%
10.0% 8.0%
7.7%
9.0% 7.2% 6.9%
6.0% 4.0%
3.7% 3.3%
2.0%
10% 8% 6%
4.3%
4% 2%
0.0%
0%
2006 2007 2008 2009 2010 2011 2012 DuPage
Chicago MSA
2006 2007 2008 2009 2010 2011 2012 Cook Lake
Illinois
DuPage McHenry
Kane Will
Source: Illinois Department of Employment Security 2012 Note: The Chicago MSA is defined as the Chicago-‐Joliet-‐Naperville MSA with a geographic area of Chicago-‐Naperville-‐Joliet IL, Lake –Kenosha IL-‐WI, and Gary IN Metropolitan Division.
Regional County Unemployment Comparison March 2011 9.6% 7.5% 10.2% 10.5% 9.7% 9.9%
County Cook DuPage Kane Lake McHenry Will
March 2012 9.2% 7.2% 9.8% 9.5% 9.7% 9.5%
Source: Illinois Department of Employment Security 2012
Chicago Metro Area Job Listings
Available online job postings Computer related Sales related Management Office Admin & Support Business & Financial Healthcare Transportation Food Preparation & Serving-‐ Related Architecture & Engineering Arts, Design, Entertainment, Sports, Media
Group Job Ad Count 22,790 17,659 17,440 13,354 11,187 11,061 4,956 4,952 4,719 4,231
Source: Illinois Department of Employment Security 2012 Note: The Chicago Metro Area includes Cook, DeKalb, DuPage, Grundy, Kane, Kankakee, Kendall, Lake, McHenry, & Will Counties.
Choose DuPage First Quarter 2012 Economic Indicators Report pg. 2
Chicago Federal Reserve Bank’s Midwest Manufacturing Index & Industrial Production Index for Manufacturing
CFMMAI and IPMFG Baseline is 100
120 100 80 60 40
CFMMAI
20
IPMFG 2012 March
2011 March
2010 March
2009 March
2008 March
2007 March
2006 March
2005 March
2004 March
2003 March
2002 March
0
Source: Chicago Federal Reserve Bank 2011 Note: The Midwest is defined as the Seventh Federal Reserve District: Illinois, Indiana, Iowa, Michigan, and Wisconsin.
st Current Regional County Real Estate Market Comparison, 1 Quarter 2012 County Cook DuPage Kane Lake McHenry Will
Office Vacancy Rate 13.1% 17.1% 19.8% 15.5% 23.9% 15.6%
Industrial
Total Absorption 4,715,157 2,132,351 183,005 322,449 112,374 174,349
Avg. Rate
Vacancy Rate
$24.27/fs $19.26/fs $18.01/fs $19.49/fs $16.40/fs $19.21/fs
10.9% 10.7% 9.2% 11.4% 12.1% 10.9%
Total Absorption 6,252,780 3,438,782 1,094,984 1,067,109 90,712 2,235,242
Avg. Rate $4.69/nnn $4.24/nnn $4.14/nnn $5.03/nnn $4.30/nnn $3.55/nnn
Source: Costar, 2012
Choose DuPage Economic Indicators Report The Choose DuPage Indicators Report is published on a quarterly basis. It is intended to provide a snapshot of the current state of the local DuPage County economy. While there is an abundance of economic data produced by state and federal sources, not all of it is produced for local level examination and disseminated on a regular schedule. Therefore, the choice of which indicators to track was determined partly on relevancy, availability and reliability. If you have any questions about this report please call Choose DuPage at 630-‐955-‐2090.
www.choosedupage.com
Choose DuPage First Quarter 2012 Economic Indicators Report pg. 3
Current Rate Or Change
Sales Tax Receipts (percent change)
Trend
-‐0.05%
Unemployment Rate
7.2%
Chicago Federal Reserve Midwest Manufacturing Index
92.2
Office Space Vacancy Rate
17.1%
Highlights: Sales Tax Receipts: DuPage County total sales tax receipts were $318.7 million in fourth quarter of 2011 compared to $318.8 million for the fourth quarter of 2010. This is an decrease of 0.05%. Municipal tax receipts were $45 million. Sales were strongest in Auto & Filling Stations, Agriculture & All Others, and Drugs & Misc. Retail business categories in DuPage County. Unemployment: The March 2012 unemployment rate of 7.2% is lower than the first quarter of 2011. The DuPage County rate remains below the National, State, and MSA rates. Chicago Fed Midwest Manufacturing Index: The Index increased slightly to 92.2, compared to 84.4 for first quarter 2011. Commercial Vacancy Rates: The office vacancy rate increased slightly and the industrial vacancy rate decreased from fourth quarter 2011.
Industrial Space Vacancy Rate
10.7%
Sales Tax Receipts County Cook DuPage Kane Lake McHenry Will
th
2010 – 4 Quarter $1,229,535,501.01 $318,874,158.30 $104,732,060.93 $176,996,264.94 $61,875,752.30 136,281,067.91
Source: Illinois Department of Revenue
th
2011 – 4 Quarter $1,241,715,888.30 $318,710,424.74 $106,109,783.74 $184,650,632.10 $59,770,124.78 $140,071,553.13
4Q 2010 – 4Q 2011 % Change 0.99% -‐0.05% 1.32% 4.32% -‐3.40% 2.78%
Portion retained by State per person $121.22 $211.39 $123.85 $169.90 $120.98 $126.71
Unemployment Rate
Regional County Historical Unemployment Comparison
DuPage County Historical Unemployment Rate 14%
12.0%
12%
10.0% 8.0%
7.7%
9.0% 7.2% 6.9%
6.0% 4.0%
3.7% 3.3%
2.0%
10% 8% 6%
4.3%
4% 2%
0.0%
0%
2006 2007 2008 2009 2010 2011 2012 DuPage
Chicago MSA
2006 2007 2008 2009 2010 2011 2012 Cook Lake
Illinois
DuPage McHenry
Kane Will
Source: Illinois Department of Employment Security 2012 Note: The Chicago MSA is defined as the Chicago-‐Joliet-‐Naperville MSA with a geographic area of Chicago-‐Naperville-‐Joliet IL, Lake –Kenosha IL-‐WI, and Gary IN Metropolitan Division.
Regional County Unemployment Comparison March 2011 9.6% 7.5% 10.2% 10.5% 9.7% 9.9%
County Cook DuPage Kane Lake McHenry Will
March 2012 9.2% 7.2% 9.8% 9.5% 9.7% 9.5%
Source: Illinois Department of Employment Security 2012
Chicago Metro Area Job Listings
Available online job postings Computer related Sales related Management Office Admin & Support Business & Financial Healthcare Transportation Food Preparation & Serving-‐ Related Architecture & Engineering Arts, Design, Entertainment, Sports, Media
Group Job Ad Count 22,790 17,659 17,440 13,354 11,187 11,061 4,956 4,952 4,719 4,231
Source: Illinois Department of Employment Security 2012 Note: The Chicago Metro Area includes Cook, DeKalb, DuPage, Grundy, Kane, Kankakee, Kendall, Lake, McHenry, & Will Counties.
Choose DuPage First Quarter 2012 Economic Indicators Report pg. 2
Chicago Federal Reserve Bank’s Midwest Manufacturing Index & Industrial Production Index for Manufacturing
CFMMAI and IPMFG Baseline is 100
120 100 80 60 40
CFMMAI
20
IPMFG 2012 March
2011 March
2010 March
2009 March
2008 March
2007 March
2006 March
2005 March
2004 March
2003 March
2002 March
0
Source: Chicago Federal Reserve Bank 2011 Note: The Midwest is defined as the Seventh Federal Reserve District: Illinois, Indiana, Iowa, Michigan, and Wisconsin.
st Current Regional County Real Estate Market Comparison, 1 Quarter 2012 County Cook DuPage Kane Lake McHenry Will
Office Vacancy Rate 13.1% 17.1% 19.8% 15.5% 23.9% 15.6%
Industrial
Total Absorption 4,715,157 2,132,351 183,005 322,449 112,374 174,349
Avg. Rate
Vacancy Rate
$24.27/fs $19.26/fs $18.01/fs $19.49/fs $16.40/fs $19.21/fs
10.9% 10.7% 9.2% 11.4% 12.1% 10.9%
Total Absorption 6,252,780 3,438,782 1,094,984 1,067,109 90,712 2,235,242
Avg. Rate $4.69/nnn $4.24/nnn $4.14/nnn $5.03/nnn $4.30/nnn $3.55/nnn
Source: Costar, 2012
Choose DuPage Economic Indicators Report The Choose DuPage Indicators Report is published on a quarterly basis. It is intended to provide a snapshot of the current state of the local DuPage County economy. While there is an abundance of economic data produced by state and federal sources, not all of it is produced for local level examination and disseminated on a regular schedule. Therefore, the choice of which indicators to track was determined partly on relevancy, availability and reliability. If you have any questions about this report please call Choose DuPage at 630-‐955-‐2090.
www.choosedupage.com
Choose DuPage First Quarter 2012 Economic Indicators Report pg. 3
