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March
unemployment rate inches to 11.5 percent
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[April 16, 2010]
CHICAGO -- The Illinois seasonally
adjusted unemployment rate was 11.5 percent in March, up one-tenth
from the February rate of 11.4 percent, according to data released
Thursday by the Illinois Department of Employment Security. The data
also shows Illinois added 3,000 jobs in March.
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 "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. "It is not surprising that
Illinois simultaneously would experience job creation and slight
increases in the unemployment rate. As jobs are created, people
become more encouraged about their ability to find a job and
therefore re-enter the work force."
The March unemployment rate is
at its highest level since July 1983. The unemployment rate's
three-month moving average is 11.4 percent, up two-tenths from
February. The moving average is at its highest rate since August
1983. Job creation for March follows February's initial data that
reported 900 fewer jobs and was revised upward to show a net gain of
400 jobs. Monthly revisions are common and are based on new or
additional information. In January, job creation was estimated at
26,000 jobs and later revised downward to 23,300.
The three-month moving average of Illinois employment, a broader
view of job creation, shows average monthly job creation of 8,900 so
far this year. The educational and health services sector, and the
trade, transportation and utilities industry sector, paced job gains
in Illinois. Job creation, and the corresponding optimism, brought
more people into the labor force. There were 765,000 unemployed
people in Illinois in March.
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The unemployment rate is not the same measure as those collecting
unemployment benefits. The unemployment rate identifies people who
are out of work and seeking employment. Workers collecting benefits
are counted separately. A person who exhausts or is ineligible for
benefits still would be reflected in the unemployment rate if
seeking employment.
The Illinois Department of Employment Security administers federally
funded employment services and unemployment insurance through its
nearly 60 offices, including the Illinois workNet Centers. IDES also
receives federal grants to provide and analyze labor market
statistics and information.
(See tables: Seasonally Adjusted
Unemployment Rates; and Illinois Seasonally Adjusted Nonfarm Jobs –
by Major Industry)
[Text from
Illinois Department of
Employment Security
file received from
the
Illinois Office of
Communication and Information]
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