Cook County Economic Analysis

Fortunes have shifted (for Cook County) over the past decade. Growth in Tourism, the County’s largest economic sector, stagnated forcing businesses to cut costs and delay investments that were needed to remain competitive. Private sector jobs fell much faster in Cook County than in the state or nation. Wages grew slowly and dropped for many residents. Full-time employment became harder to find. At the same time, housing costs continued to rise and construction was concentrated in the seasonal home market further driving up costs.

Population growth was effectively zero as the migration of retirees and older workers was canceled out by the loss of young adults and a declining birth rate.

By private sector jobs (-2), average wages (+2.8%), and population (+8) the County ended the 2000s in essentially the same place that it started. The population is graying, school enrollment is declining, housing affordability is decreasing, and the list of investments needed to restore prosperity is growing.

To read more of the Cook County Economic Analysis, click here