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1. IDES

Local Unemployment Falls Across Illinois

12/27/2012

For Immediate Release | Greg Rivara, Phone: (312) 814-0095 (pdf version)

Last Time Rates Lower: 2008

CHICAGO - November local unemployment rates fell in 11 of 12 metro areas in Illinois compared to last year, according to preliminary data released today by the U.S. Department of Labor and the Illinois Department of Employment Security (IDES). Not seasonally adjusted data compares November 2012 to November 2011. The largest declines were in: Rockford (-1.3 points to 10.5 percent), Chicago-Joliet-Naperville (-1.2 points to 8.3 percent), and Kankakee-Bradley (-1.1 points to 10.0 percent).

Payrolls increased in six metros and declined in six. The largest increases: Springfield (+1.2 percent, +1,300), Lake-Kenosha (+1.1 percent, +4,100), Chicago-Joliet-Naperville (+0.9 percent, +33,700 jobs), and Kankakee-Bradley (+0.9 percent, +400). Industry sectors increasing in the most metros were Leisure and Hospitality (11 of 12) and Manufacturing (10 of 12).

"The trend of falling unemployment rates across Illinois shows that our economy continues to improve," IDES Director Jay Rowell said. "The largest challenge to local economic growth is the fiscal cliff. Economic progress could slow at every level and we risk another recession if Congress does not work together to craft a solution."

Not seasonally adjusted data compares the current month to the same month of the previous year. The November 2012 not seasonally adjusted Illinois rate was 8.2 percent and 12.3 percent at its peak in this economic cycle in January 2010. Nationally, the unemployment rate was 7.4 percent in November and 10.6 percent in January 2010 at its peak. The unemployment rate identifies those who are out of work and looking for work and is not tied to collecting unemployment insurance benefits.

Not Seasonally Adjusted Unemployment Rates

Total Non-farm Jobs (Not Seasonally Adjusted) - November 2012