CHICAGO–(ENEWSPF)–July 21, 2011. In step with the national rate, the Illinois seasonally adjusted unemployment rate in June was 9.2 percent, according to the Illinois Department of Employment Security (IDES). The Illinois rate has been equal to or below the U.S. rate for nine consecutive months, and Illinois has reported declines in 15 of the past 17 months. Illinois’ three-month moving average increased +0.1 point to 8.9 percent.
“Illinois has added more than 10,000 manufacturing jobs and nearly 9,000 jobs in the construction sector over this time last year, including strong growth over the past month,” IDES Director Jay Rowell said. “While uneven movements – as we are seeing across the nation – are an expected part of an economic recovery, Illinois is building on the steady progress that has been made.”
Nationally, consumer confidence continues to hinder discretionary spending, which causes, in turn, businesses to delay expansion and hiring. This natural cycle, however, need not impede Illinois businesses and individuals from leveraging tax incentives and job training. Find details at www.ides.illinois.gov/employer/ui-credits.asp and http://business.illinois.gov/tax_incentives.cfm
“Businesses should evaluate tax credits designed to promote economic activity and hire specific groups of individuals, such as military Veterans,” Rowell said. “Job seekers should evaluate their skills and identify the training that is needed in order to qualify for available jobs today and in the coming years.”
In June, monthly payroll employment contracted by -7,200, seasonally adjusted. The three-month moving average is up by +2,300. The three-month context better depicts labor market trends by offsetting monthly fluctuations.
Since January 2010, when Illinois employment resumed after the national recession, Illinois has added +97,200 net new jobs. This represents a 1.7 percent job growth, compared to the nation’s 1.4 percent. Leading sectors are Professional and Business Services (+36,000); Trade, Transportation and Utilities (+24,600); Educational and Health Services (+23,900); and Manufacturing (+18,000).
The number of unemployed individuals rose for the second time since January 2010, increasing +18,900 (+3.2 percent) to 603,700. Total unemployed has declined -136,400 (-18.4 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.
Seasonally Adjusted Unemployment Rates
|
|
June
2011 |
May
2011 |
June
2010 |
3-Month
Moving Avg. |
|
Illinois
|
9.2%
|
8.9%
|
10.3%*
|
8.9%
|
|
U.S.
|
9.2%
|
9.1%
|
9.5%*
|
9.1%
|
|
* Revised
|
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