CHICAGO–(ENEWSPF)–September 20, 2012. Illinois added +9,600 jobs in August and the unemployment rate inched up 0.2 percentage points to 9.1 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.
“A pattern developed last year of slowing job growth in the summer months followed by lower unemployment rates after school re-opened in the fall,” IDES Director Jay Rowell said. “As we head into winter, the economic uncertainty caused by Congressional inaction threatens this recovery. Waiting to the last minute to make serious decisions unnecessarily undermines consumer and business confidence and hinders economic growth.”
Total private-sector employment grew by +9,000 jobs in August, boosted primarily by gains in Educational and Health Services and Leisure and Hospitality. Although the entire Government sector added +600 jobs in August, Local Government added +1,300 because classes resumed after summer vacation. Manufacturing employment gains remained steady (+700) and continues a more rapid growth rate in 2012 compared to previous year gains. From January through August of this year, manufacturing employment has expanded by +18,900 jobs.
Illinois added +151,200 private sector jobs since January 2010 when job growth returned to Illinois following nearly two years of consecutive monthly declines. Leading growth sectors are Professional and Business Services (+75,000); Manufacturing (+44,900); and Educational and Health Services (+37,700). Government has lost the most jobs since January 2010, down -34,300.
In August 2012, the number of unemployed individuals increased +6,700 (+1.1 percent) to 593,800, the third monthly increase after nine consecutive monthly declines. Total unemployed declined -159,000 (-21.1 percent) since January 2010 when the state unemployment rate peaked at 11.4 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. Historically, the national unemployment rate is lower than the state rate. Only six times since January 2000 has the Illinois rate been lower than the nation’s. That period includes times of economic expansion and contraction.
There are 120,000 help-wanted ads on Illinoisjoblink.com, the IDES employment website that links job seekers with employers. This no-cost, career resource allows individuals to create multiple resumes that emphasize different talents and allows businesses to search for specific skills. The keyword matching technology increases the likelihood of a successful new hire. Illinois JobLink emphasizes Illinois jobs, scrapes other commercial job boards, and compares favorably to private efforts that cost hundreds of dollars for a single advertisement.
Seasonally Adjusted Unemployment Rates
|August 2012||July 2012||August 2011||3-Month Moving Avg.|