Economic Indicators 2Q 2012
DuPage County Economic Indicators Second Quarter 2012 Current Rate Or Change
Indicator
Highlights: Trend
Sales Tax Receipts: DuPage County total sales tax receipts were $267.6 million in the first quarter of 2012 compared to $270.2 million for the first quarter of 2011. This is a decrease of 0.96%. Municipal tax receipts were $38.7 million. Sales were strongest in Auto & Filling Stations, Agriculture & All Others, and Drugs & Misc. Retail business categories in DuPage County.
Sales Tax Receipts (percent change)
-0.96%
Unemployment Rate
7.9%
Chicago Federal Reserve Midwest Manufacturing Index
Unemployment: The June 2012 unemployment rate of 7.9% is lower than the second quarter of 2011. The DuPage County rate remains below the National, State, and MSA rates.
94.1
Chicago Fed Midwest Manufacturing Index: The Index increased to 94.1, compared to 84.2 for second quarter 2011.
Office Space Vacancy Rate
16.4%
Industrial Space Vacancy Rate
9.6%
Commercial Vacancy Rates: The office and industrial vacancy rate both decreased slightly from first quarter 2012.
Sales Tax Receipts County Cook DuPage Kane Lake McHenry Will
st
2011 – 1 Quarter $1,041,101,639.31 $270,173,820.11 $87,655,800.26 $153,262,125.56 $47,980,299.36 116,875,964.79
Source: Illinois Department of Revenue
st
2012 – 1 Quarter $1,089,489,437.95 $267,585,104.39 $91,015,559.67 $158,976,204.53 $50,737,009.78 $123,468,350.02
1Q 2011 – 1Q 2012 % Change 4.65% -0.96% 3.83% 3.73% 5.75% 5.64%
Portion retained by State per person $108.47 $175.57 $105.58 $146.21 $102.19 $109.98
Unemployment Rate
Regional County Historical Unemployment Comparison
DuPage County Historical Unemployment Rate 12%
12.0% 10.0%
9.4%
8.0% 6.0% 4.0%
10% 9.0%
8.6% 7.9%
6%
5.7% 3.8%
8%
4.4%
4%
2.0%
2%
0.0%
0%
2006 2007 2008 2009 2010 2011 2012
DuPage
Chicago MSA
Illinois
2006
2007
2008
Cook Lake
2009
2010
DuPage McHenry
2011
2012
Kane Will
Source: Illinois Department of Employment Security 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
Chicago Metro Area Job Listings
County Cook DuPage Kane Lake McHenry Will
Available online job postings Computer related Management Sales related Office Admin & Support Business & Financial Healthcare Transportation Food Preparation & ServingRelated Architecture & Engineering Education, Training, Library
June 2011 11.3% 9.0% 10.8% 9.2% 9.8% 11.2%
June 2012 9.8% 7.9% 9.2% 8.8% 8.6% 9.6%
Source: Illinois Department of Employment Security
Group Job Ad Count 25,602 18,370 18,085 13,684 12,058 10,881 5,670 4,851 4,581 4,467
Source: Illinois Department of Employment Security Note: The Chicago Metro Area includes Cook, DeKalb, DuPage, Grundy, Kane, Kankakee, Kendall, Lake, McHenry, & Will Counties.
Choose DuPage Second Quarter 2012 Economic Indicators Report pg. 2
Chicago Federal Reserve Bank’s Midwest Manufacturing Index & Industrial Production Index for Manufacturing
CFMMAI and IPMFG 120 Baseline is 100
100 80 60 CFMMAI
40
IPMFG
20 2012 June
2011 June
2010 June
2009 June
2008 June
2007 June
2006 June
2005 June
2004 June
2003 June
2002 June
2001 June
0
Source: Chicago Federal Reserve Bank Note: The Midwest is defined as the Seventh Federal Reserve District: Illinois, Indiana, Iowa, Michigan, and Wisconsin.
nd
Regional Real Estate Market Comparison, 2 Quarter 2012 Office County Cook DuPage Kane Lake McHenry Will
Vacancy Rate 13.7% 16.4% 19.4% 15.7% 22.5% 16.7%
Industrial
Total Absorption 4,792,798 944,060 108,466 416,699 95,694 147,921
Avg. Rate
Vacancy Rate
$24.39/fs $19.23/fs $17.74/fs $18.91/fs $16.34/fs $18.89/fs
10.4% 9.6% 8.4% 10.6% 12.3% 10.2%
Total Absorption 6,403,515 3,280,488 1,606,358 1,096,989 206,618 2,329,308
Avg. Rate $4.65/nnn $4.19/nnn $4.08/nnn $5.03/nnn $4.40/nnn $3.53/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 Second Quarter 2012 Economic Indicators Report pg. 3
Indicator
Highlights: Trend
Sales Tax Receipts: DuPage County total sales tax receipts were $267.6 million in the first quarter of 2012 compared to $270.2 million for the first quarter of 2011. This is a decrease of 0.96%. Municipal tax receipts were $38.7 million. Sales were strongest in Auto & Filling Stations, Agriculture & All Others, and Drugs & Misc. Retail business categories in DuPage County.
Sales Tax Receipts (percent change)
-0.96%
Unemployment Rate
7.9%
Chicago Federal Reserve Midwest Manufacturing Index
Unemployment: The June 2012 unemployment rate of 7.9% is lower than the second quarter of 2011. The DuPage County rate remains below the National, State, and MSA rates.
94.1
Chicago Fed Midwest Manufacturing Index: The Index increased to 94.1, compared to 84.2 for second quarter 2011.
Office Space Vacancy Rate
16.4%
Industrial Space Vacancy Rate
9.6%
Commercial Vacancy Rates: The office and industrial vacancy rate both decreased slightly from first quarter 2012.
Sales Tax Receipts County Cook DuPage Kane Lake McHenry Will
st
2011 – 1 Quarter $1,041,101,639.31 $270,173,820.11 $87,655,800.26 $153,262,125.56 $47,980,299.36 116,875,964.79
Source: Illinois Department of Revenue
st
2012 – 1 Quarter $1,089,489,437.95 $267,585,104.39 $91,015,559.67 $158,976,204.53 $50,737,009.78 $123,468,350.02
1Q 2011 – 1Q 2012 % Change 4.65% -0.96% 3.83% 3.73% 5.75% 5.64%
Portion retained by State per person $108.47 $175.57 $105.58 $146.21 $102.19 $109.98
Unemployment Rate
Regional County Historical Unemployment Comparison
DuPage County Historical Unemployment Rate 12%
12.0% 10.0%
9.4%
8.0% 6.0% 4.0%
10% 9.0%
8.6% 7.9%
6%
5.7% 3.8%
8%
4.4%
4%
2.0%
2%
0.0%
0%
2006 2007 2008 2009 2010 2011 2012
DuPage
Chicago MSA
Illinois
2006
2007
2008
Cook Lake
2009
2010
DuPage McHenry
2011
2012
Kane Will
Source: Illinois Department of Employment Security 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
Chicago Metro Area Job Listings
County Cook DuPage Kane Lake McHenry Will
Available online job postings Computer related Management Sales related Office Admin & Support Business & Financial Healthcare Transportation Food Preparation & ServingRelated Architecture & Engineering Education, Training, Library
June 2011 11.3% 9.0% 10.8% 9.2% 9.8% 11.2%
June 2012 9.8% 7.9% 9.2% 8.8% 8.6% 9.6%
Source: Illinois Department of Employment Security
Group Job Ad Count 25,602 18,370 18,085 13,684 12,058 10,881 5,670 4,851 4,581 4,467
Source: Illinois Department of Employment Security Note: The Chicago Metro Area includes Cook, DeKalb, DuPage, Grundy, Kane, Kankakee, Kendall, Lake, McHenry, & Will Counties.
Choose DuPage Second Quarter 2012 Economic Indicators Report pg. 2
Chicago Federal Reserve Bank’s Midwest Manufacturing Index & Industrial Production Index for Manufacturing
CFMMAI and IPMFG 120 Baseline is 100
100 80 60 CFMMAI
40
IPMFG
20 2012 June
2011 June
2010 June
2009 June
2008 June
2007 June
2006 June
2005 June
2004 June
2003 June
2002 June
2001 June
0
Source: Chicago Federal Reserve Bank Note: The Midwest is defined as the Seventh Federal Reserve District: Illinois, Indiana, Iowa, Michigan, and Wisconsin.
nd
Regional Real Estate Market Comparison, 2 Quarter 2012 Office County Cook DuPage Kane Lake McHenry Will
Vacancy Rate 13.7% 16.4% 19.4% 15.7% 22.5% 16.7%
Industrial
Total Absorption 4,792,798 944,060 108,466 416,699 95,694 147,921
Avg. Rate
Vacancy Rate
$24.39/fs $19.23/fs $17.74/fs $18.91/fs $16.34/fs $18.89/fs
10.4% 9.6% 8.4% 10.6% 12.3% 10.2%
Total Absorption 6,403,515 3,280,488 1,606,358 1,096,989 206,618 2,329,308
Avg. Rate $4.65/nnn $4.19/nnn $4.08/nnn $5.03/nnn $4.40/nnn $3.53/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 Second Quarter 2012 Economic Indicators Report pg. 3
