CHICAGO | Economic & Business Development

[marothisu]

Chicago, the city proper, had more employed residents in March 2024 than February 2020 right before the pandemic. Not by much (a little over 4000) but still positive news and headed in the right direction perhaps.

There are still cities below their Feb 2020 employed resident count such as NYC, Los Angeles, San Francisco, Honolulu, San Jose, San Diego, Boston, Milwaukee, Miami, Seattle, etc.

Still a big question mark how they're estimating Chicago as losing population. I could see how they could get that with NYC or Los Angeles as both are 110K to 120K below their Feb 2020 employed persons population but Chicago is above Feb 2020 now. With what we uncovered before about household sizes, it doesn't make a ton of sense with their estimates still.

[Randomguy34]

How does the current unemployment rate & labor force participation rate compare to Feb 2020? If it's the same, then I agree there's no way our population is smaller than it was pre-pandemic. This also wouldn't capture the number of new arrivals who are working without permits, so our population should be higher than pre-pandemic

[marothisu]

Originally Posted by Randomguy34

How does the current unemployment rate & labor force participation rate compare to Feb 2020? If it's the same, then I agree there's no way our population is smaller than it was pre-pandemic. This also wouldn't capture the number of new arrivals who are working without permits, so our population should be higher than pre-pandemic

They don't have labor force participation rate for city or metro BUT they do have it for state. Illinois in March 2024 had a labor participation rate of 64.9%. In Februrary 2020 it was 64.1%.

Interesting to note that June and July 2022 had a 64.9% rate too and July 2023 was at 65%. This might be a function of underestimating population anyway.

Also interesting to note that Chicago MSA jumped nearly 64,000 people in the labor force from February 2024 to March 2024. There are some migrants getting work permits recently but I didn't think it was a huge number yet. Just some.

[nomarandlee]

Dope. Go get it.

https://thequantuminsider.com/2024/0...job%20creation.

A Quantum Manhattan Project In Chicago: Media Reports On ‘$20 Billion’ Quantum Computing Campus
Quantum Computing Business
Matt Swayne
May 6, 2024

Insider Brief

Chicago business media says the Illinois government is pressing hard to build a $20 billion, 150-acre quantum computing campus in Chicago.
The campus would be anchored by PsiQuantum.
The $20 billion figure refers to the potential for future business and government investments, as well as job creation.
Illinois may be on the verge of securing the largest technology project in its history—what is being labeled a “$20 billion, 150-acre quantum computing campus,” potentially anchored by Silicon Valley startup PsiQuantum, according to Crain’s Chicago Business. PsiQuantum, hot off an announcement that its receiving $600 million to build a manufacturing site in Australia, is reportedly considering two Chicago-area locations for the project, the business journal reports.

The proposed sites, the former U.S. Steel plant on the South Side and the former Texaco refinery in Lockport, are both under final review, with a decision expected soon. This initiative is part of a broader vision by Governor J.B. Pritzker’s administration, which pundits are referring to a modern-day Manhattan Project, to position Illinois as a leader quantum computing.....

Sources close to the project tell Crain’s Chicago Business that the state is currently in advanced stages of discussions with several other companies....

..

[twister244]

Damn! Beat me to the punch!

https://www.chicagobusiness.com/tech...icle1-headline

Here's the Crain's article. This is the paragraph that really caught my attention:

The state’s bet is that building such infrastructure will enable it to attract various players that will form a broad ecosystem that will make Illinois the hub for quantum computing in the way that Silicon Valley emerged as the center of the traditional computing industry.

Ultimately, such a campus could bring $20 billion in investment from private companies, as well as government research programs, and several thousand jobs over five to 10 years. The state already is having advanced discussions with several other companies, sources familiar with the project say.

This has HUGE potential, no?

This is a real economic engine that will help Chicago in the long run. Casinos and NFL stadiums are cool, but are no substitute for real economic drivers.

[Chi-Sky21]

Well they better expand the 9th street bridge then! Cluster f driving in that area.

[Kngkyle]

No wonder Pritzker is telling the Bears to take a hike, he's got his eye on a much bigger prize.

[jpIllInoIs]

Originally Posted by Kngkyle

No wonder Pritzker is telling the Bears to take a hike, he's got his eye on a much bigger prize.

DaBears><+=Da Quantum Computing

[Chi-Sky21]

Originally Posted by jpIllInoIs

POW! POW! Fastest Nimby gun in the west!

Didn't say I did not want it. I welcome it with or without them doing anything about it. But if they are going to get the land for free couldn't hurt to fix some stuff around there!

[IrishIllini]

Weren't 2020 counts revised to reflect an increase in 2022 (+250k)? https://www.nbcchicago.com/news/loca...-ever/2837753/

Is this an undercount (+47K) another revision upward? https://www.msn.com/en-us/news/other...id=socialshare

[marothisu]

Originally Posted by IrishIllini

Weren't 2020 counts revised to reflect an increase in 2022 (+250k)? https://www.nbcchicago.com/news/loca...-ever/2837753/

Is this an undercount (+47K) another revision upward? https://www.msn.com/en-us/news/other...id=socialshare

Yes, it's a revision upward. Meaning Illinois officially on the books gained something like 30K people between 2010 and 2020. There may be way more but this revision upward is based on legitimate hard data that they missed many entire group quarter settings in the count (i.e. senior homes).

Contrary to what some people will say, it has nothing to do with migrants coming either. This is people they missed who were living in Illinois in 2020. The migrant stuff didn't start until after that and has nothing to do with this revision upward.


It also means that knowledge of these quarters that were missed in 2020 will be added to future estimations for the state (and whatever county, city, etc they're in) and will probably contribute to other upward revisions for post 2020 estimates.

[IrishIllini]

Originally Posted by marothisu

Yes, it's a revision upward. Meaning Illinois officially on the books gained something like 30K people between 2010 and 2020. There may be way more but this revision upward is based on legitimate hard data that they missed many entire group quarter settings in the count (i.e. senior homes).

Contrary to what some people will say, it has nothing to do with migrants coming either. This is people they missed who were living in Illinois in 2020. The migrant stuff didn't start until after that and has nothing to do with this revision upward.


It also means that knowledge of these quarters that were missed in 2020 will be added to future estimations for the state (and whatever county, city, etc they're in) and will probably contribute to other upward revisions for post 2020 estimates.

I'm still not clear if the revisions are +300k or +47k.

Given the two sources, we were either near or above 13.2M in 2020 or at 12.9M for the same year.

[moorhosj1]

Originally Posted by IrishIllini

I'm still not clear if the revisions are +300k or +47k.

Given the two sources, we were either near or above 13.2M in 2020 or at 12.9M for the same year.

As I understand it, the +250k was an estimate from the census on how much Illinois was under-counted. It was not an official adjustment, just an estimate of their error.

The +50k was an official adjustment based on specific locations that they missed and went back to fix.

The 2020 number should be 12.9M.

[VKChaz]

Methodologies are always subject to debate, but Forbes Advisor examined states and the 15 largest metro areas for ease of savings. Chicago metro ranked 2nd easiest.

https://www.forbes.com/advisor/banki...to-save-money/

[marothisu]

Originally Posted by IrishIllini

I'm still not clear if the revisions are +300k or +47k.

Given the two sources, we were either near or above 13.2M in 2020 or at 12.9M for the same year.

It was +47K. It's based on actual data that they can point to. The 250K undercount was an estimate- so it could be pretty accurate but so far they've really only been able to pin point 47K of it so only that is officially added to a revision.