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Regional Economics Applications Laboratory
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10/13/2017 |
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09/18/2017 |
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10/15/2017 |
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Renato S. Vieira awarded the inaugural Werner Baer Fellowship
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Andre F. T. Avelino recognized as the Philip R. Israilevich Distinguished Research Fellow
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NARSC 2016 Graduate Student-Led Paper Competition: winners Esteban Lopez and Leonardo Bonilla
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REAL's 25th Anniversary |
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Do crop insurance programs preclude their recipients from adapting to new climate conditions?
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The Challenge of Estimating the Impact of Disasters: many approaches, many limitations and a compromise
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What Factors Motivate Foreign Countries to Initiate an Antidumping Investigation against China?
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Illinois Economic Review - September
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Illinois Job Index - September
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MSA Job Report - September
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Chicago Business Activity Index (CBAI) -
October
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Illinois MSA Indices and Forecasts - October
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The Regional Economics Applications Laboratory focuses on the development and use of analytical models for urban and regional forecasting and economic development.
REAL Seminar Series - Fall 2017 |
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| NEXT SEMINAR: October 13th |
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When: Fridays, 2:30-3:30pmWhere: 323 Mumford HallMore Information and Schedule: On this page |
Andre F. T. Avelino (PhD Student, University of Illinois - ACE) Revisiting the Temporal Leontief Inverse:
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- The 12-month forecast shows that Illinois is likely to experience an employment increase 3,500 jobs by August 2018. The greatest increase is likely to occur in Professional & business services (14,200 more jobs).
- The state of Illinois now has a net gain of 58,600 jobs since the beginning of the recession in December 2007. Given Illinois’ economic performance of late, recovery to the prior peak (adjusted for changes in labor force participation and population growth) recorded in 2000 within five years would seem feasible.
See the full report (Released:9/28/2017)
- Illinois lost 3,700 jobs in August 2017. The sectors that gained jobs were Trade, transportation & utilities (6,600 more jobs), Education & health (3,400 more jobs) and Construction (2,000 more jobs). The sectors that lost jobs in August in Illinois were Leisure & hospitality (9,900 less jobs), Professional & business services (3,300 less job) and Manufacturing (3,000 less jobs)
- In August, Illinois’s official unemployment rate was 5.0% while its shadow unemployment rate was 10.63%. To bring the two rates together, in other words bringing down shadow unemployment rate to 5.0%, another 405,300 jobs need to be created.
- The Nation added 156,000 jobs at a rate of 0.11% in August, compared with a revised 189,000-job gain in July 2017. There were growth in three sectors, namely Construction (28,000 more jobs), Professional & business services (40,000 more jobs) and Manufacturing (36,000 more jobs).
- The RMW lost 400 jobs in August after a revised 35,300-job gain in July 2017.
- The 12-month-ahead job recovery forecasts show that the future recovery rates in Illinois will increase for Financial activities, Professional & business services and Other services.
See the full report (Released: 9/28/2017)
- Illinois Rural area lost 2,200 jobs at -0.30% this month, compared to a revised 100-job gain in July 2017. At the same time, Metro lost 1,500 jobs at -0.03% in August, compared to a revised 500-job gain in the previous month. Five out of ten MSAs posted positive growth. Consequently, the 3,700-job loss in Illinois was mainly driven by decreases in both rural and Metro areas.
- In the monthly MSA growth league table, the most remarkable upward move in August was recorded for Decatur (9th to 2nd). In the 12-month growth league table, Metro-East dropped to the last place while Bloomington-Normal climbed to the first place.
- In Chicago, Construction had the greatest monthly job-gain among all sectors (1,700 more jobs) in August, while Manufacturing had the greatest decline (1,200 less jobs). Since the job recovery resumed in January 2010 in Illinois, Chicago Upstate has shown an average growth rate of 11.72%, which is the highest among all the IL MSAs; Bloomington-Normal has experienced the lowest average growth rate, -2.10%.
- The 12-month forecasts show that Chicago is likely to experience a 1.39% job gain by August 2018 (57,700 more jobs). The greatest 12-month growth in Chicago is likely to happen for Professional & business services (27,600 more jobs at 3.57%) but the greatest decline would be for Manufacturing (3,300 less jobs at -0.95%).
See the full report (Released: 9/28/2017)
The Chicago Business Activity Index (CBAI) increased to 101.2 in August from 98.1 in July. The rise is mainly attributed to the positive construction job growth and to the improvement of retail activities in the Chicago area.
See the full report (Released: 10/18/2017)
According to the forecast for August 2018, Decatur and Peoria are likely to perform less well over this period than Chicago. All the other MSAs will compare favorably to Chicago.
See the full report (Released: 10/11/2017)
Regional Economics Applications Laboratory318 Davenport Hall (M/C 151) 607 S. Mathews Urbana, IL 61801-3671 Phone: (217) 333-4740 |
Emeritus Director: Geoffrey J. D. Hewings (hewings@illinois.edu) Director: Sandy Dall'erba (dallerba@illinois.edu) |
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