Dec
15

Illinois Jobless Rate Falls Slightly

December 15, 2011

Jobs are key to the recovery of the Illinois and Chicago real estate industry. While our state’s unemployment rate sits well above the national average, this month saw a minor move in the right direction.

The Illinois unemployment rate for the month of November fell to 10 percent from October’s 10.1 percent.

According to the Illinois Department of Employment Security (IDES), the state added 600 jobs this month to drive the rate slightly down.

Arrow Hits Bulls-Eye the O in the word JobIllinois has added more than 62,300 jobs so far this year and has seen job growth in eight over the past 11 months. That’s much better than the state of the economy two years ago, when November 2009 marked the 22nd consecutive month of declines in job growth in Illinois.

Our state’s November unemployment rate is significantly higher than this month’s national average of 8.6 percent, but we are on par with the country when you look at the numbers longer term.

The unemployment rate hit a record-high 11.2 percent in January 2010, which was the first month of positive job growth after 23 straight months of declines. Since then, Illinois has added more than 105,600 jobs, which represents a 1.9 percent growth, the same as the national average.

“Illinois’ economy continues to take small, positive steps despite the pressure of an uneven national recovery,” said IDES Director Jay Rowell. “Illinois has recorded job growth in eight of 11 months. We have averaged nearly 6,000 new jobs each month this year. And we continue to lead the Midwest in job growth since the recovery began.

“This is progress that people can see. Illinois’ economy is moving in the right direction.”

Categories: Economy

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