Fox Valley Market Report
Large Manufacturing and Logistics Trade Presence a Tailwind Through Challenges; Impressive Lower-Tier Apartment Fundamentals Sustain Buyer Interest
Major employment sectors were more resilient. The Fox Valley lost roughly 65,000 jobs during March and April as the global health crisis induced restrictions on businesses. The leisure and hospitality sector had the greatest shock during these months with 23,100 roles being slashed. Nevertheless, the service industry accounts for under 10 percent of the metro’s labor force, so the overall impacts were less extreme than in other areas of the country. The two largest employment segments in the Fox Valley are manufacturing, and trade, transportation and utilities, both of which have been more resilient to the economic disruption. Between these two sectors a combined 13,300 roles were cut at the onset of the health crisis, but over 70 percent of those jobs have been added back. In September metro unemployment stood at 4.5 percent, 340 basis points below the national rate and 200 basis points lower than nearby Milwaukee.