* From a press release…

The administration of Governor Pat Quinn, the Illinois Workers’ Compensation Commission and the Department of Insurance (DOI) announced that a national study has provided additional evidence that Illinois’ historic workers’ compensation reforms are delivering major savings for businesses across the state. The biennial report by the Oregon Department of Consumer and Business Services shows Illinois recorded the sharpest reductions in workers’ compensation insurance premiums in the nation over the last two years. […]

The Oregon study - http://www.oregon.gov/DCBS/docs/news_releases/2014/workers-comp-rate-study-14.pdf - ranks all 50 states and the District of Columbia by the amount insurance premiums rose or dropped in the last two years. It highlights that Illinois had the steepest reduction in workers’ compensation rates when compared to the median, with an estimated rate drop of 24 percentage points between 2012 and 2014 (see chart below), compared to the national median reduction of only 2 percent.

The report shows Illinois employers workers’ compensation premiums dropped from $2.83 per $100 of payroll in 2012 to $2.35 in 2014. This means hundreds of millions of dollars in savings for Illinois businesses.

All good. No doubt about it. The trend is positive. But look at the actual rankings by clicking here and you’ll see Illinois has the 7th highest premiums in the nation. That’s down from 4th highest in 2012, but they’re still way too high.

* Meanwhile, from another press release…

The Illinois unemployment rate fell in September for the seventh consecutive month to reach 6.6 percent while employers created +19,300 jobs, according to preliminary data released today by the Bureau of Labor Statistics and the Illinois Department of Employment Security. The data is seasonally adjusted.

The drop from 9.1 percent one year ago marks, for the second consecutive month, the largest year-over-year decline since 1984. The last time the rate was lower than 6.6 percent was in June 2008 when it was 6.3 percent. Also, there are +69,000 more jobs than one year ago.

“Unemployment rates continue to fall because private-sector employers are averaging more than 5,400 new jobs each month since the Illinois economy began to improve,” IDES Director Jay Rowell said. “Meanwhile, help wanted ads for full-time work continue to grow and indicate employers expect their need for more workers to remain strong.”

September job growth was led by Trade, Transportation and Utilities (+6,500), Professional and Business Services (+6,000), and Other Services (+5,500). Manufacturing (-2,800), and Leisure and Hospitality payrolls ( 1,100) declined.

Employers added +300,700 private sector jobs since job creation returned to Illinois in February 2010. Leading sectors are Professional and Business Services (+126,800); Education and Health Services (+60,900); Trade, Transportation and Utilities (+56,100); and Leisure and Hospitality (+36,200). Government remains the job loss leader, shedding -21,500 positions during the same period.

The unemployment rate also is in line with other economic indicators. First-time jobless claims have been trending lower for the past four years and in September the number of monthly claims was at its lowest level since 2000. Numbers from the independent Conference Board’s Help Wanted OnLine Index show that Illinois employers in September advertised for nearly 212,000 jobs and 85 percent sought full-time work.

Those lost manufacturing jobs are not a good thing, and it’s been trending that way for months.

*** UPDATE 1 *** From Bruce Rauner…

“Any monthly job growth is welcome news, but under Pat Quinn, Illinois’ unemployment rate continues to trail most of our neighboring states and far too many people remain out of work. Now, we’ve learned that Pat Quinn wants to make things even tougher on hard-working Illinoisans by enacting another massive tax hike next month.

“Since Pat Quinn became governor Illinois has lost more than 48,000 manufacturing jobs, including more than 2,500 last month alone. The people of Illinois have suffered enough under Pat Quinn and it’s time for him to go. I have a plan to lower taxes and create more jobs so our economy is booming again. I’m eager to get to work for you.”

*** UPDATE 2 *** From Brooke Anderson of the Quinn campaign…

We’re not surprised that Bruce Rauner continues to root for the Illinois economy to fail. The truth is, Illinois’ improving economy doesn’t fit the false narrative he’s made the foundation of his campaign.

Jobs are up and unemployment is down. Unemployment is now at its lowest point in more than 6 years… more people are working today than when Governor Quinn took office.

In the last 2 months alone, Illinois has created 40,000 jobs. In the last 6 months, Illinois has seen the steepest decline in unemployment of any state in the nation.

Bruce Rauner just can’t handle the truth. Having a Governor who makes the tough decisions is leading our economy in the right direction.