Labor Market Pulse · Finance · October 2026
Finance Labor Market Report: Peoria, IL MSA — October 2026
Peoria unemployment drops to 3.8% as Controller pay climbs.
Peoria's jobless rate fell to 3.8%, down 0.9 points year-over-year, while metro Controller pay rose to $116,218 against a national CFO turnover rate of 18.3%.
Free archive edition. Published by WageScape as sent to subscribers; data as of October 2026.
Key indicators
- Peoria unemployment rate: 3.8% — Down 0.9 pts YoY; Sept. 2025 was 4.7%
- Peoria job growth: +300 jobs — September 2026, down from +700 in August
- CFO turnover rate: 18.3% — Highest since the pandemic (Crist|Kolder)
- Illinois Financial Activities jobs: -15,800 — Year-over-year loss statewide through August
Key takeaways
Controller pay is moving while mid-level roles hold flat.
Metro Controller advertised pay rose to a median of $116,218, outpacing the national figure, while Senior Accountant and Financial Analyst pay stayed essentially flat. Pay compression at senior levels is narrowing — a signal that retention risk sits highest just below the Controller seat.
Local unemployment is dropping faster than hiring is accelerating.
Peoria's 3.8% unemployment rate reflects a 0.9-point year-over-year decline, yet the metro added only 300 jobs in September after 700 in August. A tightening rate without matching job growth is consistent with workers exiting the labor force or relocating, a distinction worth making before assuming stronger local demand.
FP&A Manager pay signals where budget priority is shifting.
FP&A Manager advertised pay climbed to $130,000 both locally and nationally, aligning with CFO turnover running at 18.3% nationally — the highest since the pandemic. Organizations appear to be paying up for planning and forecasting capability precisely when finance leadership continuity is least certain.
Illinois sector data complicates the local reading.
Statewide Financial Activities employment fell 1,700 jobs in August with 15,800 lost year-over-year, even as Finance & Accounting postings rose 6.8% — a split between headcount contraction and specialist demand. Peoria employers should treat state-level softness as backdrop context rather than a direct signal for local role-level hiring plans.
Median advertised pay by role — Peoria, IL MSA
| Role | 25th percentile | Median advertised pay | 75th percentile | Metro trend | National median |
|---|---|---|---|---|---|
| Controller | $80,000 | $116,218 | $117,404 | Significant increase | $115,420 |
| Senior Accountant | $81,687 | $87,042 | $93,173 | Stable | $87,731 |
| Financial Analyst | $69,392 | $74,143 | $75,878 | Stable | $94,646 |
| Billing Specialist | $38,636 | $44,200 | $46,028 | Stable | $49,000 |
| Tax Specialist | $45,647 | $65,000 | $74,714 | Stable | $69,556 |
| Credit Analyst * | $62,400 | $72,122 | $75,780 | Moderate increase | $71,397 |
| FP&A Manager * | $105,031 | $130,000 | $142,500 | Moderate increase | $130,000 |
* State-level figure shown where metro postings were too few.
WageScape's median is calibrated to correct for spurious low-value postings (reported as the 60th percentile of raw advertised pay). Download: CSV · JSON
Local market conditions
Peoria MSA unemployment fell to 3.8% in September, down 0.9 percentage points year-over-year and tied for the largest improvement among Illinois metros, even as nonfarm job growth stayed modest at 0.5% over the year and only 300 jobs added for the month. Tight local labor supply is coinciding with a national Finance talent shortage — 85% of surveyed CFOs report finance staffing shortfalls — meaning Peoria employers compete for a shrinking specialized candidate pool against a backdrop of a shrinking statewide labor force.
What it means
Falling local unemployment alongside flat-to-moderate advertised pay for Senior Accountant and Financial Analyst roles suggests Peoria employers are managing talent tightness through structure and leveling, while Controller and FP&A Manager postings move up as organizations pay for scarce leadership and planning capacity. With 70% of finance leaders nationally expanding contract talent use in H2 2026, Peoria organizations managing close and audit cycles face a growing documentation and controls question alongside the staffing one. Consider reviewing whether Controller and FP&A Manager compensation bands reflect the premium being paid nationally for retention during CFO transition cycles, where external hiring now runs at 37.5%.
Looking ahead
Expected data release: Illinois statewide employment data for October publishes November 19, with metro-level Peoria figures following November 25 — the first full read on whether September's unemployment drop held into Q4.
Emerging pressure point: CFO turnover at 18.3% nationally and a 37.5% external hiring rate raise succession and retention stakes heading into year-end close; Peoria organizations without a documented leadership bench plan face elevated interim-staffing exposure.
Worth watching: Contract talent use is rising in 70% of finance organizations nationally; watch whether Peoria audit and close cycles show increased reliance on interim or contract accounting support as Q4 approaches.
Potential inflection point: Illinois' labor force has contracted 1.3% over the year and participation has slipped to 63.6%; a continued pullback could tighten the Peoria candidate pool further even as local job growth stays modest.
Sources
- Illinois Department of Employment Security — Peoria MSA unemployment fell to 3.8% in September 2026
- Bureau of Labor Statistics / USAFacts — Peoria added 300 jobs in September, 700 in August 2026
- AFP FP&A Forum — 70% of finance leaders increasing contract talent use in H2 2026
- Crist|Kolder Associates — CFO turnover projected at 18.3% in 2026, highest since pandemic
- Illinois Department of Employment Security — Illinois Financial Activities lost 15,800 jobs year-over-year
- Illinois Department of Employment Security — Illinois October employment data releases November 19
Methodology
Advertised pay from active employer job postings, not survey data. WageScape's median is calibrated to correct for spurious low-value postings: distribution analysis shows roughly the lowest 10% of raw values are erroneous entries, so the reported median is the 60th percentile of raw advertised pay. WageScape observes 98% of U.S. job openings daily.
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