The fourth quarter snapshot of the Peoria economy is flat, according to the Center for Business and Economic Research at Bradley University. Director Bernard Goitein says there were a lot of negative factors that kept the composite index from moving into positive territory including manufacturing jobs, professional and business services related to manufacturing, and overall unemployment.
Goitein says balancing the negative was an effort by those laid off in the Caterpillar downsizing to find other employment. Some were able to find comparable jobs. Some found multiple part time jobs. So even though manufacturing was down 4 percent for the quarter and unemployment rose by a full point in only three months, Goitein says, the number of people working was down only slightly for the period
Goitein says construction grew in the fourth quarter, though that only partly offset losses earlier in the year.
