Private Sector Growth Up 222,100 During Recovery
CHICAGO–(ENEWSPF)–March 7, 2013. More people resuming their job search and entering the workforce pushed the January 2013 unemployment rate to 9.0 percent, according to preliminary data released today by the U.S. Bureau of Labor Statistics and the Illinois Department of Employment Security (IDES). The data is seasonally adjusted. One year ago, the rate was 9.1 percent. Employers added 7,100 jobs in January 2013.
“An economic recovery naturally includes monthly up-and-down movement in the unemployment rate as individuals suspend and renew their job search,” IDES Director Jay Rowell said. “As cuts from sequestration are implemented during the next few months, we will have a better idea on how federal fiscal policy will impact Illinois.”
Illinois added +222,100 private sector jobs since January 2010 when job growth returned following nearly two years of consecutive monthly declines. Leading growth sectors are Professional and Business Services (+87,600); Education and Health Services (+55,800); and Trade, Transportation and Utilities (+43,000). Government has lost the most jobs since January 2010, down -26,300.
In January 2013, the number of unemployed individuals increased +22,900 (+4.0 percent) to 594,800. Total unemployed has fallen -157,400 (-20.9 percent) since early 2010 when the state unemployment rate peaked at 11.3 percent for the months of January and February.
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. Historically, the national unemployment rate is lower than the state rate. The state rate has been lower than the national rate only six times since January 2000.
Please note that the U.S. Bureau of Labor Statistics requires revisions to monthly employment and labor force data. The revisions occur each February and March based upon updated Census, unemployment insurance and seasonal data. Data and analysis distributed prior to March 1, 2013 should be discarded.
January local data will be released March 14. February statewide data will be released March 21. February local data will be released March 28. March statewide data will be released April 18.
More than 100,000 help-wanted ads are on Illinoisjoblink.com, the IDES employment website that links job seekers with employers. The keyword matching technology increases the likelihood of a successful new hire and compares favorably to private efforts that cost hundreds of dollars for a single advertisement. No-cost HR recruitment services are available at the website and at (877) 342-7533.
Source: illinois.gov
