LinkedIn Jobs Report – Chicago

LinkedIn Jobs Report – Chicago

Over the past weekend LinkedIn – the online professional networking platform – published its first LinkedIn Workforce Report a new monthly report highlight the employment trends in the U.S. workforce. The following is captures the key findings from this report to give your business insight into the competitive workforce market that is Chicagoland.

  • Hiring was 22% higher in April 2018 v. April 2017
    • SBA’s Perspective – this reflects strongly on the feedback that the Schaumburg Business Association is collecting. Hiring across industries was up in April and many of the businesses seeking access to new talent partners
  • Chicago(land) is experiencing an abundance of workers in certain skill sets
    • SBA’s Perspective – the top three (3) skills in abundance in Greater Chicagoland were General Finance, Trading & Investment, and Corporate Finance which is reciprocated by Schaumburg businesses looking to fill these roles. Business Development positions ranks seventh (7) on the abundance supply but for Schaumburg businesses is a position that is NOT easily identified or available.
  • Migration is reflective of a national narrative
    • SBA’s Perspective – Chicagoland’s migration is reflective of the urban migration trend occurring nationally and internationally.  Greater Chicago area has gained the most workers from Urbana-Champaign, IL and Bloomington-Normal, IL. An unscientific correlation can be made that as University of Illinois and Illinois State University grads, and other professionals, seek greater employment opportunities they are moving to the more economically dense city of Chicago
  • Outbound migration not indictive of Greater Chicago/Illinois high taxes
    • SBA’s Perspective – A common narrative that is Chicago/Illinois high rate outbound migration is due to high taxes. However, LinkedIn’s data indicates a different story. Two of the top three cities that Chicago has lost the most workers two are Los Angeles, CA and San Francisco (Bay Area), CA. Either hub of California’s economy offers significantly higher cost of living and doing business. This data suggests a counter argument to the high tax repelling residents, and businesses, away.

Comparatively, LinkedIn’s April Workforce Report mirrors many of the same datapoints as the Schaumburg Business Association’s empirical evidence. While there are some noticeable takeaways – including the geographical location of Outbound migration – much is the same. Should your business require any data support please reach out to the Schaumburg Business Association. As a full-service community and economic development organization we can provide you the necessary data to assist in any planning or decision-making process.

To read the full LinkedIn Workforce Report please follow the link or to learn more please email the SBA!

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