Illinois Adds 30,000 Jobs in October

Lawndale News Chicago's Bilingual Newspaper - BusinessIllinois added 30,000 jobs in October and the unemployment rate inched up to 10.1 percent, according to data released by the U.S. Bureau of Labor Statistics and the Illinois Department of Employment Security (IDES). The data is seasonally adjusted. A simultaneous increase in jobs and the unemployment rate could suggest that more residents feel optimistic about finding work. As that optimism grows, more people re-energize their job search, which is reflected in a higher unemployment rate. Historically, the unemployment rate tends to creep upward at this time of year as weather conditions limit work opportunities. Also, individuals who were not looking for work, and therefore not counted in the unemployment rate, traditionally re-enter the workforce to seek temporary employment.

Illinois has added 64,800 jobs so far this year and 108,100 jobs since January 2010 when job growth returned to Illinois after 23 consecutive months of declines. That represents 1.9 percent job growth compared to the nation’s 1.8 percent. Since January 2010, leading growth sectors in Illinois are Professional and Business Services (49,600); Educational and Health Services (38,600); Trade, Transportation and Utilities (23,500); and Manufacturing (17,800). The IDES supports economic stability by administering unemployment benefits, collecting business contributions to fund those benefits, connecting employers with qualified job seekers, and providing economic information to assist career planning and economic development. It does so through nearly 60 offices, including Illinois workNet centers.

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