Illinois unemployment rate falls to 8.8 percent in March

[April 15, 2011]  CHICAGO -- The seasonally adjusted unemployment rate fell for the 14th consecutive month, dropping 0.1 to 8.8 percent in March, according to preliminary data released Thursday by the Illinois Department of Employment Security. This is the lowest unemployment rate reported since February 2009, when it was 8.6 percent. The national rate also fell 0.1 to 8.8 percent in March. The Illinois rate has been equal to or below the U.S. rate for six consecutive months. 

"The Illinois labor market continues to demonstrate solid signs of a jobs recovery. Not since December 1994 has our state recorded such consistent declines in the unemployment rate," said IDES Director Maureen O'Donnell. "Even though slight up-and-down movement in job creation and unemployment remain possible in this stage of the recovery, the long-term data show Illinois is moving in a positive direction." 

The seasonally adjusted payroll employment estimate for March increased 1,700. The three-month moving average of payroll employment gain of 15,400 for January through March is more indicative of the current job market. The three-month context better depicts trends in the labor market as evidenced by improvements in other measures, such as increasing online job advertising and falling initial unemployment claims. Additionally, federal changes in data estimation beginning in March might cause larger fluctuations in monthly payroll estimates. 

Since January 2010 when Illinois employment resumed after the national recession, Illinois has added 89,500 new jobs. Leading sectors are professional and business services, up 38,900; educational and health services, up 24,800; trade, transportation and utilities, up 21,800; and manufacturing, up 9,900. That represents a 1.6 percent job growth, compared with the nation's 1.2 percent. 

In March, the number of unemployed individuals fell for the 14th consecutive month, dropping 6,200, or 1.1 percent, to 582,100, the lowest level since February 2009. Total unemployed has declined 158,000, or 21.3 percent, since January 2010, when the state unemployment rate peaked at 11.2 percent.

The unemployment rate identifies those who are out of work and seeking employment. People who exhaust their benefits, or are ineligible, still will be reflected in the unemployment rate if they actively seek work

Seasonally adjusted unemployment rates

	March 2011	Feb. 2011	March 2010	3-mo. moving avg.
Illinois	8.8%	8.9%	11.0%*	8.9%
U.S.	8.8%	8.9%	9.7%*	8.9%

* Revised

[Text from Illinois Department of Employment Security file received from the Illinois Office of Communication and Information]