Property Search

Browse by Neighborhood

Browse by Zipcode

Search Condo Directory

Chicago Area Market Trends

Help >

Chicago Now

Our main blog has been moved to chicagonow.com/getting-real
but we occasionally post articles here as well.

Chicago Employment Continues Its Nosedive

November 3rd, 2009 by Gary Lucido

The preliminary September labor statistics for the Chicago metro area show that employment is back on the decline after several months of improvement. 367,000 jobs have been lost since the peak in July, 2007 and 217,000 jobs have been lost in just the last 12 months. That’s a lot of potential homebuyers.

Chicago Employment

We are now down to levels last seen in May, 2003 and December, 2002. Coincidentally the Case Shiller home price index is also currently at May, 2003 levels. In addition, employment is also lower than it was 10 years ago, so Chicago has its own lost decade.

This definitely undermines my theory that Chicago housing prices have bottomed but I’m going to stick with that thesis for the time being until I see a change in the Case Shiller index.

Bookmark and Share
BBB Accredited BusinessLucid Realty, Angies List Super Service Provider Serving Chicago, Elmhurst, Hinsdale, Oak Brook, Downers Grove, Glen Ellyn, Lombard,
Addison, Wood Dale, Itasca, and Other Chicago Suburbs
Facebook Twitter You Tube RSS Feed  
About Us | News | Site Map | Real Estate Employment     Join our mailing list

  Delivered by FeedBurner

Terms of Use | Privacy Statement      All Rights Reserved. Information Deemed Reliable But Not Guaranteed. © 2015 Lucid Realty, Inc. Equal housing opportunity

Crome Interactive Marketing