Unemployment rate up in most metros

Unemployment rate up in most metros

CHICAGO–Unemployment rates increased over-the-year in February in ten of Illinois’s metropolitan areas, decreased in two, and was unchanged in two, according to preliminary data released recently by the U.S. Bureau of Labor Statistics (BLS) and the Illinois Department of Employment Security (IDES). Data also show nonfarm jobs increased in eight of the metropolitan areas.

Illinois businesses added jobs in eight metro areas, with the largest percentage increases in: Peoria (+2.4%, +4,000), Carbondale- Marion (+2.1%, +1,200), Chicago- Naperville-Arlington Heights (+1.4%, +51,600), and Lake-Kenosha (+1.4%, +5,600). The metro areas showing an over-the-year decrease in total nonfarm jobs were Danville (-2.2%, -600), Bloomington (-1.4%, -1,300), St. Louis-IL Section (-0.4%, -1,000), and Champaign-Urbana (-0.4%, -400).

The industry sectors recording job growth in the majority of metro areas included Manufacturing (10 of 14), Professional and Business Services (9 of 14), Mining and Construction (8 of 14), and Government (8 of 14).

Not seasonally adjusted data compares February 2019 with February 2018. The not seasonally adjusted Illinois rate was 4.7 percent in February 2019 and stood at 12.2 percent at its peak in this economic cycle in January 2010. Nationally, the not seasonally adjusted unemployment rate was 4.1 percent in February 2019 and 10.6 percent in January 2010 at its peak. The unemployment rate identifies those who are out of work and looking for work and is not tied to collecting unemployment insurance benefits.

Chicago-Naperville-Arlington Heights, IL Metro Division The not seasonally adjusted unemployment rate decreased to 4.0 percent in February 2019 from 4.6 percent in February 2018. The February 2019 unemployment rate of 4.0 percent is the lowest February unemployment rate on record. For the month of February 2019, the estimated number of unemployed people in the labor force was 147,500.

Total nonfarm employment increased +51,600 compared to February 2018. Educational-Health Services (+17,900), Transportation- Warehousing-Utilities (+9,000), and Professional-Business Services (+6,800) reported the largest payroll gains. The Retail Trade (-2,300) and Information (-2,200) sectors recorded the largest employment declines compared to one year ago.

Elgin, IL Metro Division The not seasonally adjusted unemployment rate increased to 5.9 percent in February 2019 from 5.3 percent in February 2018. For the month of February 2019, the estimated number of unemployed people in the labor force was 19,500.

Total nonfarm employment increased +3,400 compared to February 2018. The Manufacturing (+1,900), Government (+1,500), and Wholesale Trade (+600) sectors reported the largest payroll gains. The Professional-Business Services (-1,100) sector recorded the largest employment declines compared to one year ago.

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