After making remarkable gains in 2014, the local unemployment rate experienced a spike in January, as it historically takes a breather after the holidays but did retreat 20 basis points recently over the prior post-holiday high of 6.8 percent.

1. Office real estate implications
Office employment trends (12-month change) | Metro Chicago
Source: Bureau of Labor Statistics, JLL Research
Job growth/loss by sector (12-month change) | Metro Chicago
According to a survey by the University of Michigan, consumer confidence
jumped in January to its highest level in a decade. In that same month we also
saw that average hourly wages rose $0.12 to $24.75 for the sharpest increase
since 2008, but are still below levels sought by central banking experts. Still,
these trends are coinciding as the local employment market is accelerating
towards full recovery.
Office-using sectors are taking a majority of those gains and where historically,
Professional & business services has driven most of that growth, in recent
months, sectors like information and government are contributing to the gains
made by office-using sectors. This is a positive sign that as the employment
market expands; it is continuing to draw strength from a diverse set of industries.
Looking ahead, the resurgent job market and growing payrolls make it more
likely that the Federal Reserve will raise the short-term interest rate in the
coming months.
Total jobs vs. Unemployment rate | Metro Chicago
6.6%
Metro Chicago unemployment
1.6%
Metro Chicago 12-month job growth
5.5%
U.S. unemployment
2.3%
U.S. 12-month job growth
Millions
Number of jobs
• After making remarkable gains in 2014, the local unemployment
rate experienced a spike in January, as it historically takes a
breather after the holidays but did retreat 20 basis points recently
over the prior post-holiday high of 6.8 percent.
• The sectors driving this recent employment gains are
government, professional & business services and education &
health services.
• Total U.S. nonfarm employment increased by 126,000 jobs in
March, the lowest level since March 2013 and well below
economist forecasts of 244,000 new payrolls. Downward revisions
were also made to the January and February figures, totaling
69,000 jobs.
• U.S. unemployment was unchanged at 5.5 percent and wage
growth remained sluggish as average hourly earnings increased
only 2.1 percent year-over-year, far below the Fed’s goal of 3.5
percent or better.
Office Employment Update
Metro Chicago | April 2015
Thousands
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%
3.0
3.1
3.2
3.3
3.4
3.5
3.6
3.7
3.8
Total Employment Unemployment
3.9%
Peak: 3,840,379 jobs
-45
-30
-15
0
15
30
2010 2011 2012 2013 2014 2015
Financial Activities Professional & Business Services Information Government
-3,000
-900
600
1,200
4,300
6,700
6,800
11,800
11,900
18,800
-3,500 1,500 6,500 11,500 16,500
Manufacturing
Financial Activities
Other Services
Information
Mining and Logging
Leisure & Hospitality
Federal Government
Educational & Health Services
Trade, Transportation & Utilities
Professional & Business Services

2. For more information, please contact:
Robert Kramp
Senior Vice President – Americas
Midwest Research Director
tel +1 312 228 2470
Robert.Kramp@am.jll.com
Joe Klosterman
Research Analyst
tel +1 312 228 3189
Joe.Klosterman@am.jll.com
© 2015 [or current year] Jones Lang
LaSalle IP, Inc. All rights reserved. All
information contained herein is from
sources deemed reliable; however, no
representation or warranty is made to
the accuracy thereof.
February 2013 February 2014 February 2015
Total non-farm
employment
3,444,800
1.9%
3,491,000
1.3%
3,549,200
1.3%
Unemployment rate 10.7% 8.8% 6.6%
Metro Chicago
supersectors February 2013 February 2014 February 2015
Mining, Logging & Construction 94,700 2.6% 99,800 5.4% 104,100 4.3%
Manufacturing 282,900 -0.6% 279,200 -1.3% 276,200 -1.1%
Trade, Transportation, & Utilities 693,400 1.5% 699,700 0.9% 711,600 1.7%
Information 70,400 -0.3% 69,600 -1.1% 70,800 1.7%
Financial Activities 247,000 1.1% 246,400 -0.2% 245,500 -0.4%
Professional & Business Services 619,400 5.2% 646,700 4.4% 665,500 2.9%
Educational & Health Services 549,100 2.3% 557,500 1.5% 569,300 2.1%
Leisure & Hospitality 313,600 2.8% 321,300 2.5% 328,000 2.1%
Other Services 154,700 0.1% 156,500 1.2% 157,100 0.4%
Government 419,600 -0.2% 414,300 -1.3% 421,100 1.6%
News on the street | Metro Chicago businesses expanding, contracting, etc.
Employment statistics | Metro Chicago Industry employment stratification | Metro Chicago
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Chicago, IL 60601
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Chicago, IL 60631
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ContextMedia│ Advertising: Expanding
ContextMedia, a Chicago-based health information provider that employs 200, will add 600 jobs by the end of 2016. The hiring will occur across all functions but with
an emphasis in sales, engineering, customer support, and marketing and media and a majority will be for entry- and mid-level professionals. ContextMedia delivers
programming tailored to specific health concerns in doctors offices and other clinics and it has grown 100 percent year over year since it was founded in 2006.
Gogo Wireless│Wireless provider: Expanding
Itasca-based Gogo Wireless will be hiring an additional 150 workers when it relocates to the West Loop later this year. This announcement comes after the inflight
wireless provider committedto bringing 500 workers to the CBD when it occupies 232,000 square feet at 111 N Canal Street. To accommodate this growth, Gogo
will lease an additional 27,000 square feet.
Livingston International│Logistics: Expanding
Livingston International, a global logistics company focused on customs brokerage and trade compliance, will locate its new U.S. headquarters in Chicago. By the
end of 2015, Livingston expects to add 75 employees to its new Chicago office in the Chicago Board of Trade building. The company’s global headquarters is in
Toronto, Chicago was selected because it is an international trade hub and offers a large talent pool.
One North Interactive│ Web design: Expanding
One North Interactive,which designs websites mainly for law firms, is expanding by up to 55 new employees. The company will be moving to 222 N LaSalle from 1
N Dearborn in the middle of the year. The move will allow One North Interactive to grow from around 80 employees in Chicago to about 135 in the next three to five
years.
Options Away │ Travel: Expanding
Options Away is a Chicago-based start-up that allows users to search for flights and buy an option to purchase a ticket in the future. The company, which is based at
1871 in the Merchandise Mart, has raised about $5.5 million in funding, investors include OCA Ventures, Pritzker Group Venture Capital and Thayer Ventures. It
currently has 15 employees and expects to have about 25 by year-end.
Sprint│ Telecommunications: Expanding
Sprint [NYSE:S]recently announced that it will bring jobs and infrastructure investments to the city over the next two years. This investment will bring more than 300
new jobs to neighborhoods throughout Chicago by the end of 2015 and includes the installationof hundreds of new cell sites and an expected investment of $45
million in its network infrastructure between now and the end of 2016.
Trade, transportation and
Utilities, 711,600, 20%
Professional and
Business Services,
665,500, 19%
Educational and Health
Services, 569,300, 16%
Government, 421,100,
12%
Leisure and Hospitality,
328,000, 9%
Manufacturing, 276,200,
8%
FinancialActivities,
245,500, 7%
Other Services, 157,100,
4%
Mining, Logging and
construction, 104,100,
3%
Information, 70,800, 2%