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Unemployment rate rises again, but so do jobs

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Illinois

* AP…

Illinois’ unemployment rate slightly increased in February to 6.4 percent. It was the fourth straight monthly increase.

The Illinois Department of Employment Security said Thursday that the number of people employed across the state increased by 18,100 people. But state officials said that as more people seek jobs Illinois’ economy is not creating enough positions. Unemployment was up from 6.3 percent in January.

* The last administration always tried to put the best possible spin on these monthly reports, often to the extreme. Rauner’s guys do just the opposite…

The Illinois Department of Employment Security (IDES) announced today that Illinois’ unemployment rate in February rose 0.1 percentage points to 6.4 percent and nonfarm payrolls increased by +18,100 jobs, based on preliminary data released by the U.S. Bureau of Labor Statistics (BLS) and IDES. Nonfarm payrolls recovered from the 2007-2009 recession in February; however Illinois’ average job growth since employment recovery began in January 2010 remains well below the national average.

“Illinois remains one of only three states that have not recovered jobs lost from the 2001 recession,” IDES Director Jeff Mays said. “While Illinois grew in jobs it took us twice as long compared to the rest of the country. When determining the overall growth, it is also important to take into account the volatility of the monthly employment numbers.”

The state’s unemployment rate is higher than the national unemployment rate reported for February 2016, which held at 4.9 percent. The unemployment rate stood 0.4 percentage points above the unemployment rate a year ago when it was 6.0 percent. Illinois surpassed the January 2008 payroll peak by +1,300 jobs, but remains 61,300 jobs short of its peak employment level reached in September 2000 while the nation currently stands 3.7 percent above its prior peak level of employment.

“As improvements in the national economy motivate more people to seek employment, Illinois’ lagging job creation rate continues to be a cause for concern,” Illinois Department of Commerce Director Jim Schultz said. “We are not creating enough jobs, we continue to lose critical middle-class manufacturing jobs, and unemployment in Illinois continues to rise, keeping our state from achieving full economic recovery. Illinois needs structural reforms that will stimulate growth and create jobs for hardworking Illinois families.”

The number of unemployed workers increased +1.9 percent from the prior month to 420,300 and was up +8.7 percent over the same month for the prior year. The labor force grew by 1.8 percent in February over the prior year. The unemployment rate identifies those individuals who are out of work and are seeking employment. An individual who exhausts or is ineligible for benefits is still reflected in the unemployment rate if they actively seek work.

The unemployment rate is increasing in Illinois primarily because more workers are entering the labor force and are not immediately able to find work. In February, the two industry sectors with the largest gains in employment were: Professional and Business Services (+6,600); Trade, Transportation and Utilities (+4,500) and Leisure and Hospitality (+4,200). The two industry sectors with the largest declines in employment were: Construction (-2,400); and Education and Health Services (-2,000).

Over the year, nonfarm payroll employment increased by +65,700 jobs with the largest gains in Leisure and Hospitality (+21,100); Educational and Health Services (+17,800); and Trade, Transportation and Utilities (+14,100). Industry sectors with over-the-year declines in February include: Manufacturing (-2,700) and Information (-1,700).

posted by Rich Miller
Thursday, Mar 24, 16 @ 3:28 pm

Comments

This report is actually good news. Job growth has again picked up. More people are entering the workforce.

Comment by Tone Thursday, Mar 24, 16 @ 3:51 pm
You’ve got to hand it to Rauner and his frat boys. They’re the best at trashing people, organizations and the state in order to further they’re own unproven agenda.

Comment by Norseman Thursday, Mar 24, 16 @ 4:01 pm
Why can’t Schultz and Rauner - 2 supposedly very successful businessmen - improve the economy despite the lack of “structural reforms”? The Quinn folks at DCEO did t have any structural reforms and they worked towards improving the economy - obviously not as much as we all wanted - but they didn’t just sit on their hands and make excuses every chance they got.

I thought Schultz was going to be the salesman for the state? All he seems to do is talk down the state.

Comment by Henry Francis Thursday, Mar 24, 16 @ 4:12 pm
It is good news that employment increased but the fact are the facts, Illinois does lag behind most of the Country in getting out of the recession and there is a reason for it. So maybe change is in order as we consistently seem to be the first affected by recessions and near the last to recover

Comment by A Rock Thursday, Mar 24, 16 @ 4:15 pm
Hey IPI, please explain to our viewers how that whole Kansas thing is working out.

Comment by Trolling Troll Thursday, Mar 24, 16 @ 4:17 pm
This administration puts out accurate #’s, unlike the previous 2 admins.

Comment by Anonymous Thursday, Mar 24, 16 @ 4:51 pm
Did a previous poster actually use the word accurate and the Rauner administration in the same sentence? I’ve never seen an administration that puts out misinformation like this one. It’s been 14 months and they have already engendered a lot of mistrust from other politicians as well as the citizenry. They regularly say something one day and do something different the next.

Comment by The Dude Abides Thursday, Mar 24, 16 @ 5:15 pm
Rauner is the first adult as Governor in years.

Comment by Tone Thursday, Mar 24, 16 @ 5:21 pm
And we’re losin’ more jobs due to the governor’s policy of winnin’ at any cost. That’s real adult-like.

Comment by Austin Blvd Thursday, Mar 24, 16 @ 6:55 pm
I thought Quinn’s jobs reports were a little over the top rah-rah, but at least it was a positive message. Which is more than you can say about Rauner’s reports.

Comment by anon Thursday, Mar 24, 16 @ 7:48 pm
Tone, are you using ck’s random word generator?
(I know, don’t feed the trolls.)

Comment by Keyrock Thursday, Mar 24, 16 @ 8:21 pm