Illinois Department of Revenue

Economic Indicators

Consumer SpendingLabor

Data SummaryHousing Gross Domestic

Product

Economic indicators measure activity on a given topic. As researchers, businesses, economists, we probe these

macroeconomic datasets at the local level to summarize how they interact and impact our community.

(In the Labor Force, not working but looking for work)

Unemployment Rates

5.1%

Bloomington-Normal and Other Illinois Cities Unemployment RatesAugust 2015-August 2016

Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-160.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%

7.00%

8.00%

9.00%

BN Chicago Decatur Peoria Springfield IL5.1% 6.7%5.4% 6.2% 4.6% 5.5%

Continuing decline …Labor Force and Employment

Aug-11

Oct-11

Dec-11

Feb-12

Apr-12

Jun-12

Aug-12

Oct-12

Dec-12

Feb-13

Apr-13

Jun-13

Aug-13

Oct-13

Dec-13

Feb-14

Apr-14

Jun-14

Aug-14

Oct-14

Dec-14

Feb-15

Apr-15

Jun-15

Aug-15

Oct-15

Dec-15

Feb-16

Apr-16

Jun-16

Aug-1680,000

85,000

90,000

95,000

100,000

105,000

110,000

Labor Force Employed

• US Labor Force also continues to decline, especially in the middle-aged ranges, and Illinois employment declines, as did some of the nearby communities.

• B-N decline in employment during the summer months of 2016 matched 2015, due to the universities.• However, labor force decline was greater this summer than last summer with a drop in June.

Labor Participation

BN Existing Home Sales and Value: 2015 vs 2016 YTD > increase of 6% in number of existing-homes, value steady

Homes Sold Value

Source: Bloomington-Normal Association of Realtors® (BNAR)

Jan Feb Mar Apr May Jun Jul Aug0

50

100

150

200

250

300

350

400

100

128

199223

262

340

286

254

136

106

206

262

299

329

292

261

2015 2016

Jan Feb Mar Apr May Jun Jul Aug$0

$10,000,000

$20,000,000

$30,000,000

$40,000,000

$50,000,000

$60,000,000

$70,000,000

2015 2016

BN New Home Sales: 2015 vs 2016 YTD > 3% increase in value for new homes, appx equal in number

Homes Sold Value

Illinois Department of Revenue

Jan Feb Mar Apr May Jun Jul Aug0

5

10

15

20

25

30

7

10

22

26

1415

1312

3

12

1516

14

22

20

14

2015 2016

Jan Feb Mar Apr May Jun Jul Aug$0

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

$8,000,000

2015 2016

Illinois Department of Revenue

$22.6 M

$22.1 M

$22.3 M

$23.1 M

$20.8 M

Illinois Department of Revenue

Annual Retail Sales Tax Receipts,Regional Cities, years 2011 - 2015

2011 2012 2013 2014 20150

5,000,000

10,000,000

15,000,000

20,000,000

25,000,000

30,000,000

Champaign Decatur Peoria Springfield

B-N

Jobs by Industry 2011-2016

Source: U.S. Bureau of Labor Statistics

Mining and Constr

uction

Manufac

turin

g

Transporta

tion, Ware

housing a

nd Utilities

Retail Tr

ade

Informati

on

Finan

cial A

ctiviti

es

Professional a

nd Business

Servi

ces

Educati

onal and Healt

h Servi

ces

Leisure an

d Hospitality

Other Servi

ces

Government

0

5,000

10,000

15,000

20,000

25,000

2011 2012 2013 2014 2015 2016

“Areas of stability, some growth, but some declines”

Unemployment rate declineB-N unemployment rate declined to 5.2 percent by July, which is less than the IL state average of 5.6 percent. This was also a full percentage point less than the most near-term peak of 6.5% of last January..

Labor Force and Employment decline

Drop in Labor Force over the summer and drop in Employment numbers are a concern. Numbers for final quarter of 2016 will be important.

Retail Sales -- Stable but not growingRecovery in housing market reflect state trends Retail sales have been flat or slightly

declining for 2012 through 2015, led by declines for Bloomington. However, Peoria has had similar declines and Decatur has been flat.

3.2% increase in the avg price of new homes and a 6% increase in existing-home sales at a price equal to last year’s.

Not indicating true ‘recovery’ but housing market rebound is a positive sign, Retail

Sales are stable, and Labor force continues decline.

Thank you!