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Illinois Had 57,800 More Unemployed Individuals Than Jobs Created Last Quarter
The latest employment data is out for the state of Illinois. From an Illinois Department of Employment Security news release yesterday:
The March unemployment rate was 9.5 percent, unchanged from February, according to preliminary data released today by the U.S. Bureau of Labor Statistics (BLS) and the Illinois Department of Employment Security (IDES). As expected, Illinois recorded -17,800 fewer jobs compared to February even as it added +36,600 over March 2012. The data is seasonally adjusted.
“Illinois employers were expected to report fewer positions in March. Economic uncertainty nationally and abroad dampened our country’s job growth. When that happens, Illinois’ share tends to be a negative number,” IDES Director Jay Rowell said. “Monthly snapshots capture a moment in time. When those moments are evaluated together, we see progress away from a global recession and through a stubborn economic growth cycle marked by volatile swings in monthly data here and across our country.”
The three-month moving average of job growth, a data point that smoothes monthly volatility and unpredictable or one time events, shows +1,100 jobs added each month so far this year.
When I crunch IDES employment numbers for all of 2013, a less rosy picture emerges. Using data from their news releases:
January 2013
Employers added 7,100 jobs
Number of unemployed individuals increased 22,900 (+4.0 percent) to 594,800
February 2013
Employers added 12,400 jobs
Number of unemployed individuals increased 34,900 (+5.9 percent) to 629,400
March 2013
Employers shed 17,800 jobs
Number of unemployed individuals increased 1,700 (+0.3 percent) to 629,200
(Editor’s note: Is it just me or do some of the above numbers not jive? Oh well, that’s IDES’s deal. I’m just crunching the numbers they provided.)
In the first quarter of 2013, Illinois employers added a total of 1,700 jobs.
At the same time, the number of unemployed individuals increased 59,500.
Which, if my math is correct, leaves the state with 57,800 more unemployed individuals than there were jobs created in the first quarter of this year.
If you’re looking for a job/looking to change jobs here in the “Land of Lincoln,” you might want to ramp up your efforts if you aren’t doing so already.
The IDES news releases I used are located here, here, and here.
By Christopher E. Hill, Editor
Survival And Prosperity (www.survivalandprosperity.com)
Survival And Prosperity
\”Protecting and Growing Self and Wealth in These Uncertain Times\”
2013-04-19 08:47:58
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