Housing Musings

Thursday, April 15, 2010

Read this. Get mad. Get politically active.

From Crain's Chicago Business:

Illinois jobless rate ticks up to 11.5%

By: Monée Fields-White April 15, 2010

(Crain’s) — Unemployment in Illinois edged up in March, holding at a level not seen in almost 27 years.

The jobless rate rose to 11.5% last month on a seasonally adjusted basis, according to figures released by the Illinois Department of Employment Security. That’s up from 11.4% in February. A year ago, the rate stood at 8.6%.

While the unemployment rate in March was the highest since July 1983, the state did record an increase in jobs for a third consecutive month. Last month, employers added 3,000 jobs. The three-month moving average shows a gain of 8,900 jobs.

“Three consecutive months of job growth offers cautious optimism that the effects of this national recession might be softening,” IDES Director Maureen O’Donnell said in a statement.

Still, there were 148,500 fewer people employed in the state during last month compared with the same month in 2009. That’s led by declines in manufacturing and construction.

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