Illinois adds 4,800 jobs, unemployment rate holds at 8.8 percent
Online Staff Report
CHICAGO — Illinois added 4,800 jobs in October, and the unemployment rate held at 8.8 percent for the second consecutive month, according to preliminary data released Nov. 16 by the U.S. Bureau of Labor Statistics and Illinois Department of Employment Security (IDES). One year ago, the October unemployment rate was 10 percent.
“Job growth and an unemployment rate significantly lower than one year ago shows steady economic progress,” IDES Director Jay Rowell said. “Our eyes now turn toward Congress. Decisions must be made regarding the fiscal cliff so that Illinois’ economy can continue to recover.”
Illinois added 158,200 private-sector jobs since January 2010 when job growth returned to Illinois following nearly two years of consecutive monthly losses. Leading growth sectors are Professional and Business Services (plus 78,400); Manufacturing (plus 43,300); and Education and Health Services (plus 42,100). Government has lost the most jobs since January 2010, down 27,200.
October 2012 job gains were driven by the Leisure and Hospitality, and Education and Health Services sectors. Manufacturing added 900 jobs in October, and manufacturing payrolls are up 20,000 in the first 10 months of this year. This is nearly twice as strong as 2010 and more than double the gain posted in 2011 for the same 10-month period.
In October 2012, the number of unemployed individuals fell 1,100 (down 0.2 percent) to 581,300, the 11th monthly decline in 14 months. Total unemployed declined 171,500 (down 22.8 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. The state rate has been lower than the national rate only six times since January 2000. Nationwide unemployment in October was at 7.9 percent.
The Rockford metro area’s unemployment rate dropped to 11 percent in September. Illinois metro numbers for October will be released Wednesday, Nov. 21.
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 résumés that emphasize different talents and allows businesses to search for specific skills. The keyword matching technology increases the likelihood of a successful new hire. Illinoisjoblink.com emphasizes Illinois jobs, scrapes other job boards, and compares favorably to private efforts that cost hundreds of dollars for a single advertisement. No-cost HR recruitment services are available there and at (877) 342-7533.
Posted Nov. 16, 2012