Chicago Construction
Transcript:
Chicago. The windy city. And the third largest metropolitan area in the U.S., with 4.7 million people employed there in 2018, which is up 44,700 jobs from a year earlier…but back to windy, honestly, the weather’s not the greatest… but the food more than makes up for it, with local eats like deep dish pizza, Italian sausage and hot dogs!
Unemployment in the Chicago area continues to fall, averaging 4% in 2018. That’s likely because Chicago is a major business center, fed by the talent pool graduating from the area’s small number of well-regarded institutes of higher learning… ok, medium number of well-regarded institutions… ok, they have a ton of great schools like Northwestern University, the University of Chicago, and more, so the talent pool is very impressive.
In terms of Chicago construction, in 2018 the Chicago area ranked #7 in the nation by dollar value of total construction started, at $15.8 billion. Nonresidential building grew 11% in 2018, hitting $7 billion, while residential represented $5.2 billion.
So what does all this mean? Well, if you’re looking to catch some rays in February… maybe look elsewhere. If you’re looking for top talent in an established business hub? Pretty great! And did we mention the food?