Strong job market predicted
March 29, 2005
Two employment outlook surveys predict a booming job market for DeKalb, but some warn the outlook may not be so rosy.
The NIU Center for Governmental Studies released the DeKalb County Economic Index on Monday.
The one-page survey asked employers to predict their expectations for levels of sales, inventories, employment, prices and profits.
Nearly 70 percent of manufacturing respondents expect higher production for next quarter, said Ruth Anne Tobias, county board chair and research assistant for the center. According to the center, 40 percent of respondents expect an increase in personnel from last quarter.
“The numbers for the manufacturing sector are really high,” Tobias said. “I did not expect to see the numbers that high.”
The manufacturing sector has higher expectations than the retail and service sectors for the next quarter, she said.
The higher numbers and expectations do not necessarily mean an economic boom is imminent, she said.
“There has been quite a bit of downsizing in that sector recently,” Tobias said. “This could be a case of the manufacturers that are left getting the business that is left.”
Another survey that asks employers to look to the future has also found promising data to suggest there will be more jobs in DeKalb.
The Manpower Employment Outlook Survey, which is a nationwide survey of 16,000 U.S. employers, was released March 15.
The survey predicts that the DeKalb area job market is expected to be among the strongest in the nation.
The job prospects appear best in construction, durable and non-durable goods and manufacturing and wholesale/retail trade services, Manpower spokeswoman Stacy Safranek said.
Hiring in transportation, public utilities, finance, insurance, real estate, education and public administration is expected to remain unchanged, she said.
Although there are a lot of high expectations, there are a number of reasons why everyone shouldn’t get excited just yet, said Roger Hopkins, executive director of the DeKalb County Economic Development Corporation.
“The retail sector has lower numbers and they represent the consumer,” he said.
The expectations of higher interest rates in the near future are providing an incentive for businesses to borrow money and complete projects before the rates go up, Hopkins said.
Employment is also lower in the first quarter because of seasonal layoffs, so naturally people expect to hire more in the second quarter, Hopkins said.