Economic Indicators 4Q 2011
DuPage County Economic Indicators Fourth Quarter 2011 Indicator
Current Rate Or Change
Sales Tax Receipts (percent change)
Trend
3.9%
Unemployment Rate
7.3%
Chicago Federal Reserve Midwest Manufacturing Index
87.4
Office Space Vacancy Rate
16.7%
Highlights: Sales Tax Receipts: DuPage County total sales tax receipts were $302 million in third quarter of 2011 compared to $290 million for the third quarter of 2010. This is an increase of 3.92%. Municipal tax receipts were $42 million. Sales were strongest in Auto & Filling Stations, Agriculture & All Others, and Drugs & Misc. Retail business categories in DuPage County. Unemployment: The December 2011 unemployment rate of 7.3% is lower than the third quarter of 2011, though slightly higher than in December 2010. The DuPage County rate remains below the National, State, and MSA rates. Chicago Fed Midwest Manufacturing Index: The Index increased slightly to 87.4, compared to 84.9 for third quarter 2011 and 80.8 for fourth quarter 2010. Commercial Vacancy Rates: The office and industrial vacancy rate decreased from third quarter 2011.
Industrial Space Vacancy Rate
11.9%
Sales Tax Receipts County Cook DuPage Kane Lake McHenry Will
2010 – 3rd Quarter $1,147,415,422.80 $290,996,550.27 $95,778,302.34 $164,738,003.29 $52,988,793.30 $120,218,639.66
Source: Illinois Department of Revenue
rd
2011 – 3 Quarter $1,189,008,619.52 $302,414,234.39 $101,814,367.90 $160,317,112.27 $57,496,470.70 $141,216,255.55
3Q 2010 – 3Q 2011 % Change 3.62% 3.92% 6.30% -‐2.68% 8.51% 17.47%
Portion retained by State per person $115.76 $200.75 $118.66 $142.54 $116.53 $128.73
Unemployment Rate
Regional County Historical Unemployment Comparison
DuPage County Historical Unemployment Rate 14%
12.0%
12%
10.0%
8.8%
8.0% 6.0%
5.6%
4.0%
3.9%
2.0%
3.0%
10% 7.3% 6.7%
8% 6%
4.0%
4% 2%
0.0%
0%
2005 2006 2007 2008 2009 2010 2011 DuPage
Chicago MSA
2005 2006 2007 2008 2009 2010 2011 Cook Lake
Illinois
DuPage McHenry
Kane Will
Source: Illinois Department of Employment Security 2011 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 County Cook DuPage Kane Lake McHenry Will
December December 2010 2011 8.9 9.6 6.7 7.3 8.9 10.0 9.5 9.6 8.3 8.9 9.0 9.4
Source: Illinois Department of Employment Security 2011
Chicago Metro Area Job Listings
Available online job postings Computer related Management Sales related Office Admin & Support Healthcare Business & Financial Transportation Architecture & Engineering Healthcare Support Education, Training, Library
Group Job Ad Count 17,080 12,183 11,176 8,970 7,674 7,629 3,571 3,101 2,579 2,442
Source: Illinois Department of Employment Security 2011 Note: The Chicago Metro Area includes Cook, DeKalb, DuPage, Grundy, Kane, Kankakee, Kendall, Lake, McHenry, & Will Counties.
Choose DuPage Fourth Quarter 2011 Economic Indicators Report pg. 2
Chicago Federal Reserve Bank’s Midwest Manufacturing Index & Industrial Production Index for Manufacturing
CFMMI and IPMFG 120 Baseline is 100
100 80 60
CFMMI
40
IPMFG
20 0 2005 2006 2007 2008 2009 2010 2011 Dec Dec Dec Dec Dec Dec Dec
Source: Chicago Federal Reserve Bank 2011 Note: The Midwest is defined as the Seventh Federal Reserve District: Illinois, Indiana, Iowa, Michigan, and Wisconsin.
th Current Regional County Real Estate Market Comparison, 4 Quarter 2011 County Cook DuPage Kane Lake McHenry Will
Office Vacancy Rate 13.9% 16.7% 20.8% 15.6% 24.8% 16.0%
Total Absorption 4,339,902 934,526 133,725 493,060 65,662 114,607
Industrial Avg. Rate
Vacancy Rate
$24.14/fs $19.31/fs $17.88/fs $19.87/fs $7.14/fs $19.10/fs
10.9% 11.9% 9.6% 12.1% 12.1% 11.3%
Total Absorption 4,231,137 4,779,587 1,051,227 1,314,123 275,020 3,122,016
Avg. Rate $4.64/nnn $4.28/nnn $4.20/nnn $5.03/nnn $4.37/nnn $3.61/nnn
Source: Costar, 2011
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 Fourth Quarter 2011 Economic Indicators Report pg. 3
Current Rate Or Change
Sales Tax Receipts (percent change)
Trend
3.9%
Unemployment Rate
7.3%
Chicago Federal Reserve Midwest Manufacturing Index
87.4
Office Space Vacancy Rate
16.7%
Highlights: Sales Tax Receipts: DuPage County total sales tax receipts were $302 million in third quarter of 2011 compared to $290 million for the third quarter of 2010. This is an increase of 3.92%. Municipal tax receipts were $42 million. Sales were strongest in Auto & Filling Stations, Agriculture & All Others, and Drugs & Misc. Retail business categories in DuPage County. Unemployment: The December 2011 unemployment rate of 7.3% is lower than the third quarter of 2011, though slightly higher than in December 2010. The DuPage County rate remains below the National, State, and MSA rates. Chicago Fed Midwest Manufacturing Index: The Index increased slightly to 87.4, compared to 84.9 for third quarter 2011 and 80.8 for fourth quarter 2010. Commercial Vacancy Rates: The office and industrial vacancy rate decreased from third quarter 2011.
Industrial Space Vacancy Rate
11.9%
Sales Tax Receipts County Cook DuPage Kane Lake McHenry Will
2010 – 3rd Quarter $1,147,415,422.80 $290,996,550.27 $95,778,302.34 $164,738,003.29 $52,988,793.30 $120,218,639.66
Source: Illinois Department of Revenue
rd
2011 – 3 Quarter $1,189,008,619.52 $302,414,234.39 $101,814,367.90 $160,317,112.27 $57,496,470.70 $141,216,255.55
3Q 2010 – 3Q 2011 % Change 3.62% 3.92% 6.30% -‐2.68% 8.51% 17.47%
Portion retained by State per person $115.76 $200.75 $118.66 $142.54 $116.53 $128.73
Unemployment Rate
Regional County Historical Unemployment Comparison
DuPage County Historical Unemployment Rate 14%
12.0%
12%
10.0%
8.8%
8.0% 6.0%
5.6%
4.0%
3.9%
2.0%
3.0%
10% 7.3% 6.7%
8% 6%
4.0%
4% 2%
0.0%
0%
2005 2006 2007 2008 2009 2010 2011 DuPage
Chicago MSA
2005 2006 2007 2008 2009 2010 2011 Cook Lake
Illinois
DuPage McHenry
Kane Will
Source: Illinois Department of Employment Security 2011 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 County Cook DuPage Kane Lake McHenry Will
December December 2010 2011 8.9 9.6 6.7 7.3 8.9 10.0 9.5 9.6 8.3 8.9 9.0 9.4
Source: Illinois Department of Employment Security 2011
Chicago Metro Area Job Listings
Available online job postings Computer related Management Sales related Office Admin & Support Healthcare Business & Financial Transportation Architecture & Engineering Healthcare Support Education, Training, Library
Group Job Ad Count 17,080 12,183 11,176 8,970 7,674 7,629 3,571 3,101 2,579 2,442
Source: Illinois Department of Employment Security 2011 Note: The Chicago Metro Area includes Cook, DeKalb, DuPage, Grundy, Kane, Kankakee, Kendall, Lake, McHenry, & Will Counties.
Choose DuPage Fourth Quarter 2011 Economic Indicators Report pg. 2
Chicago Federal Reserve Bank’s Midwest Manufacturing Index & Industrial Production Index for Manufacturing
CFMMI and IPMFG 120 Baseline is 100
100 80 60
CFMMI
40
IPMFG
20 0 2005 2006 2007 2008 2009 2010 2011 Dec Dec Dec Dec Dec Dec Dec
Source: Chicago Federal Reserve Bank 2011 Note: The Midwest is defined as the Seventh Federal Reserve District: Illinois, Indiana, Iowa, Michigan, and Wisconsin.
th Current Regional County Real Estate Market Comparison, 4 Quarter 2011 County Cook DuPage Kane Lake McHenry Will
Office Vacancy Rate 13.9% 16.7% 20.8% 15.6% 24.8% 16.0%
Total Absorption 4,339,902 934,526 133,725 493,060 65,662 114,607
Industrial Avg. Rate
Vacancy Rate
$24.14/fs $19.31/fs $17.88/fs $19.87/fs $7.14/fs $19.10/fs
10.9% 11.9% 9.6% 12.1% 12.1% 11.3%
Total Absorption 4,231,137 4,779,587 1,051,227 1,314,123 275,020 3,122,016
Avg. Rate $4.64/nnn $4.28/nnn $4.20/nnn $5.03/nnn $4.37/nnn $3.61/nnn
Source: Costar, 2011
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 Fourth Quarter 2011 Economic Indicators Report pg. 3
