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Unemployment Down & Job Creation Steady in Will County, Illinois
As of April, the county’s unemployment rate stood at 7%, below one year prior when it reached 16%
By Alex Ortiz | ShawLocal.com
Will County’s economy appears to be on solid footing as it and the nation continue to recover from the COVID-19 pandemic, according to the local Center for Economic Development.
In its virtual report to investors on Wednesday, the Will County CED highlighted several data points showing a local recovery which compares favorably to the rest of the state.
Doug Pryor, the CED’s vice president for economic development, said much like the the rest of U.S., Will County took about a 3% hit to its gross regional product in 2020, compared to the prior year due to the economic constraints of the pandemic.
“Considering where we thought we would be at the beginning of COVID, this is actually an OK number,” Pryor said.
Even with the impact, Pryor said he anticipates the county to bounce back as more vaccinations and lifting of restrictions causes economic activity to resume.
More In The News
The new Greater Chicagoland Economic Partnership was announced this week and includes the City of Chicago, Cook County and six counties across the northeastern Illinois region including Will County.
Ruth Colby, CED Board Chair, welcomed more than 250 guests and thanked members of the CED Board for their time, guidance, and leadership in making the CED and Will County the best it can be. She reflected on the CED’s forty-one years of success. In 2022 forty-three investor organizations marked 30 years or more of investment in the CED, which was commemorated through presentations of Certificates of Appreciation recognizing their commitment to community and their partnership with the Will County Center for Economic Development.
The CED’s Infrastructure Coalition met recently for a mid-year update on State and regional transportation projects, studies, and plans. This important CED Coalition’s mission and charge is making sure Will County is meeting the infrastructure needs of our businesses and residents.