DuPage County boasts low unemployment and decreasing office vacancy rates
Choose DuPage has released its 2019 Third Quarter Economic Indicators Report, with data proving DuPage County’s consistent growth. Despite unemployment rates rising slightly from 2.8 percent in quarter two to 2.9 percent, DuPage maintains the lowest unemployment rate in the region. The average annual salary in DuPage County remains higher than both state and national average at $64,045. Data shows DuPage County’s industrial vacancy rate rose to 5.1 percent, while the office vacancy rate dropped to 13.9 percent from 14.0 in quarter two.
2019 Third Quarter Report Highlights:
- DuPage County consistently maintains the lowest unemployment rate in the region at 2.9 percent – up slightly from 2.8 percent in quarter three. This is lower than the unemployment rate at the same time last year, at 3.1 percent. The county’s unemployment rate is lower than both the State of Illinois (4.0 percent) and the United States (3.7 percent).
- The average annual salary in DuPage County increased by more than $1,000 since last quarter to $64,045 – higher than both the state ($59,452) and national ($57,025) averages.
- Industrial vacancy rates are currently at 5.1 percent; office vacancy rates dropped to 13.9 percent from 14.7 percent during the same time last year.
- The fastest growing industry in DuPage County continues to be healthcare and social assistance sectors, expanding at an average rate of 3.2 percent each year over five consecutive years.
DuPage County is home to nearly 90,000 businesses that are taking advantage of the highly educated and skilled workforce. Together, these companies represent 650,761 jobs across a variety of industries. Employment data indicated current top industries based on employment include healthcare and social assistance (75,716 jobs), professional, scientific and technical services (63,449 jobs), retail trade (60,219 jobs), admin/support/wast management and remediation services (59,113 jobs), and manufacturing (57,777 jobs).
Click here to view the Choose DuPage 2019 Third Quarter Economic Indicators Report.