Apr
22

Chicago’s Unemployment Rate is Going Down

April 22, 2011

This week has had positive news galore:

Chicago Real Estate Market Showing Signs of Spring

New-Home Construction on the Rise

More Encouraging Housing News

Commercial Chicago Real Estate Improving

Let’s keep it going and end the week on another positive note:

The state’s unemployment rate is setting records.

According to the Illinois Department of Employment Security, the year-over-year jobless rate fell in March in every county of Illinois for an unprecedented fourth straight month.

employment applicationIn fact, the unemployment rate fell in every metropolitan area of the state for the seventh straight month. That is also a record, as it hasn’t happened since this data was created in 1984.

The biggest unemployment-rate declines:

*Rockford: Down from 17.2 percent in March 2010 to 13.3 percent in March 2011

*Peoria: Down from 11.9 percent to 9.1 percent

*Danville: Down from 13.2 percent to 10.6 percent

*Decatur: Down from 13.2 percent to 10.7 percent

*Chicago-Joliet-Naperville: Down from 11.1 percent to 8.7 percent.

That unemployment rate in the Chicago area is now lower than the state’s rate of 9.1 percent and the nation’s rate of 9.2 percent.

Hallellujah!

“Today’s report is encouraging because the long-term trends of job creation and falling unemployment rates again are visible,” said IDES Director Maureen O’Donnell.

“The Illinois labor market continues to demonstrate solid signs of a jobs recovery. Not since December 1994 has our state recorded such consistent declines in the unemployment rate.

“Even though slight up-and-down movement in job creation and unemployment remain possible in this stage of the recovery, the long-term data show Illinois is moving in a positive direction.”

O’Donnell said that job success is tied with educational and vocational training and that residents who have not updated their skills since the Great Recession need to find employment service programs that can help.

Check out the Illinois Department of Employment Security for resources, and let’s keep pushing that unemployment rate down.

Categories: Economy

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Tracey

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