Unemployment falls in all metros for seventh consecutive month
CHICAGO – October unemployment rates fell in every metro area for the seventh consecutive month and most are at six or seven year lows, according to preliminary data released today by the U.S. Bureau of Labor Statistics and the Illinois Department of Employment Security. The rate also fell in 101 counties and was unchanged in Mercer County.
“October’s data reflect a strengthening of local economies. In each area, more people describe themselves as working and employers in most metros report larger payrolls than one year ago,” IDES Director Jay Rowell said. “IllinoisJobLink.com remains an important tool to find employment, especially for those who typically did not need a resume.”
Illinois employers added jobs in seven metros: Champaign-Urbana (+1.5 percent, +1,600), Lake County-Kenosha County (+1.5 percent, +6,100), Danville (+1.0 percent, +300) and Chicago-Joliet-Naperville (+0.8 percent, +30,200). Industry sectors recording job growth in the majority of metros were Mining and Construction (eight of 12) and education and Health Services (seven of 12).
Not seasonally adjusted data compare the current month to the same month of the previous year. The October 2014 not seasonally adjusted Illinois rate was 6.6 percent and 12.2 percent at its peak in this economic cycle in January 2010. Nationally, the unemployment rate was 5.8 percent in September and 10.6 percent in January 2010 at its peak. The rate identifies those who are out of work and looking for work. Historically, the state unemployment rate is higher than the national rate.