IL Unemployment Rate Falls 15th Time to 8.7 Percent

CHICAGO–(ENEWSPF)–May 19, 2011.  The seasonally adjusted unemployment rate fell for the 15th consecutive month, dropping  0.1 to 8.7 percent in April, according to preliminary data released today by the Illinois Department of Employment Security. This is the lowest unemployment rate since February 2009 when it was 8.6 percent. The national rate in April increased slightly by +0.2 to 9.0 percent. The Illinois rate has been equal to or below the U.S. rate for seven consecutive months.

“Long-term trends show our economy continues to steadily improve,” IDES Acting Director Theresa P. Larkin said. “But no recovery is marked by a straight upward line. Even with a growing recovery, slight up-and-down movement in the unemployment rate and job creation is to be expected.”

Illinois added +9,900 jobs in April. The three-month moving average of seasonally adjusted payroll employment gain for February through April is +10,900. The three-month context better depicts trends in the labor market by offsetting fluctuations in monthly payroll estimates.

Since January 2010 when Illinois employment resumed after the national recession, Illinois has added +100,300 net new jobs. Leading sectors are Professional and Business Services (+39,200); Educational and Health Services (+26,200); Trade, Transportation and Utilities (+26,100); and Manufacturing (+14,600). That represents a 1.8 percent job growth, compared to the nation’s 1.4 percent.

In April, the number of unemployed individuals fell for the 15th consecutive month, dropping  6,600 ( 1.1 percent) to 575,300, the lowest level since February 2009. Total unemployed has declined -164,800 (-22.3 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.

Seasonally Adjusted Unemployment Rates

 
April
2011
March
2011
April
2010
3-Month
Moving Avg.
Illinois
8.7%
8.8%
10.8%*
8.8%
U.S.
9.0%
8.8%
9.8%*
8.9%
* Revised

Source: illinois.gov