National Slowdown Impacts Illinois’ Economy
Illinois Adds +1,600 Jobs in September; Rate Ticks to 10 Percent
CHICAGO – The September seasonally adjusted unemployment rate in Illinois ticked up to 10 percent despite the addition of +1,600 new jobs, according to preliminary data released today by the U.S. Bureau of Labor Statistics and the Illinois Department of Employment Security (IDES). The data support the conclusions by most private economists that the recovery from the national recession continues, although at a slower pace than earlier this year.
“Consumer confidence drives the national economy and affects our economic growth here in Illinois, so these are not surprising figures,” IDES Director Jay Rowell said. “Job growth at this stage in the economic cycle often is accompanied by a slight increase in the unemployment rate. But a broader confidence must be restored at the national level before individual states will show greater wide-spread growth.”
Illinois has added +37,700 jobs so far this year and +81,000 jobs since January 2010 when job growth returned to Illinois after 23 consecutive months of declines. Since January 2010, leading growth sectors are Professional and Business Services (+40,200); Educational and Health Services (+32,700); Manufacturing (+17,500); and Trade, Transportation and Utilities (+16,800). Compared to September 2010, employment in Illinois is up +44,400 led by Educational and Health Services (+20,200); Professional and Business Services (+14,000); and Manufacturing (+11,300).
In September 2011, unemployed individuals increased +10,500 (1.6 percent) to 663,300 compared to August. Total unemployed has declined -76,800 (-10.4 percent) since January 2010 when the state unemployment rate peaked at 11.2 percent. The unemployment rate identifies those who are out of work and seeking employment. A person who exhausts benefits, or is ineligible, still will be reflected in the unemployment rate if they actively seek work.
The IDES supports economic stability by administering unemployment benefits, collecting business contributions to fund those benefits, connecting employers with qualified job seekers, and providing economic information to assist career planning and economic development. It does so through nearly 60 offices, including Illinois workNet centers.