Press Release - Thursday, March 17, 2011
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February Unemployment Rate Falls to 8.9 Percent
CHICAGO - The seasonally adjusted unemployment rate fell for the 13th consecutive month, dropping -0.1 to 8.9 percent in February, according to preliminary data released today by the Illinois Department of Employment Security. The last time the state rate was below 9.0 percent was two years ago in February 2009. The national February rate also fell -0.1 to 8.9 percent.
"The Illinois economy is steadily building momentum. Our state has recorded 13 consecutive months of falling unemployment rates after nearly two years of increases," IDES Director Maureen O'Donnell said. "Although up-and-down movement in the rate still is possible, the trend shows the Illinois economy is improving and moving in the right direction."
The seasonally adjusted payroll employment estimate for February increased +17,600. The three-month moving average of payroll employment gain of +12,200 net jobs for February is more indicative of the current job market. Below-trend seasonal hiring during the fourth quarter of 2010 produced overstated estimates of job loss in November and December. Additionally, federal changes in data estimation have caused larger monthly fluctuations.
Since January 2010 when Illinois employment resumed after the national recession, Illinois has added +85,100 net new jobs. Leading sectors are Professional and Business Services (+36,100); Educational and Health Services (+26,700); Trade, Transportation and Utilities (+17,600); and Manufacturing (+9,800). That represents a 1.5 percent job growth, compared to the nation's 1.0 percent. When considering all workers, including independent contractors and the self-employed, Illinois has added +147,600 positions since January 2010.
In February, the number of unemployed individuals fell for the 13th consecutive month, dropping -10,700 (-1.8 percent) to 588,500, the lowest level since February 2009. Total unemployed has declined -151,600 (-25.8 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. A person who exhausts benefits, or is ineligible, still will be reflected in the unemployment rate if they actively seek work.
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.
Please note that the U.S. Bureau of Labor Statistics requires revisions to monthly employment and labor force data. The revisions occur each February based upon updated Census data, unemployment insurance inputs, and seasonal factors. Data and analysis distributed prior to March 3, 2011 should be discarded.
Seasonally Adjusted Unemployment Rates
|
|
February 2011 |
January 2011 |
February 2010 |
3-Month Moving Avg. |
|
Illinois |
8.9% |
9.0% |
11.1%* |
9.0% |
|
U.S. |
8.9% |
9.0% |
9.7%* |
9.1% |
|
* Revised | ||||
Illinois Seasonally Adjusted Nonfarm Jobs - by Major Industry
Industry Title
February
2011*
January
2011**
February
2010**
Over the Month Change
Over the Year
Change
3-Month
Moving Avg.
Change from
Previous
3-MonthMov. Avg.
Total Non-farm
5,665,600
5,648,000
5,590,400
17,600
75,200
5,645,800
12,200
Mining
9,600
9,500
8,800
100
800
9,500
0
Construction
201,700
200,800
203,700
900
-2,000
198,000
1,500
Manufacturing
563,000
564,100
554,600
-1,100
8,400
562,500
800
Trade, Transportation, & Utilities
1,136,400
1,136,200
1,119,900
200
16,500
1,132,400
3,100
Information
98,900
100,300
102,900
-1,400
-4,000
99,900
-900
Financial Activities
355,400
356,500
363,600
-1,100
-8,200
356,600
-1,400
Professional and Business Services
816,400
810,800
787,400
5,600
29,000
812,200
3,500
Educational and Health Services
848,400
842,700
824,200
5,700
24,200
845,000
1,300
Leisure and Hospitality
526,200
521,400
512,900
4,800
13,300
522,400
2,700
Other Services
259,900
256,300
255,500
3,600
4,400
256,800
2,200
Government
849,700
849,400
856,900
300
-7,200
850,300
-900
* Preliminary ** Revised
Notes:
• Illinois monthly labor force, unemployed and unemployment rates for years 2006-2010 have been revised as required by the U.S. Bureau of Labor Statistics. In February of each year, monthly labor force data for all states are revised to reflect updated Census population controls, seasonal factors, non-farm jobs and unemployment insurance claims inputs. Data were also smoothed to eliminate large monthly changes as a result of volatility in the monthly household (CPS) survey. Comments and tables distributed in prior Illinois unemployment rate news release materials should be discarded because any analysis, including records, previously cited might no longer be valid.
• Seasonally adjusted employment data for subsectors within industries are not available. For not seasonally adjusted jobs data with greater industry detail, go to http://lmi.ides.state.il.us/cesfiles/cescurrent.htm.
• "Other Services" includes a wide range of activities in three broad categories: Personal and laundry; repair and maintenance; and religious, grant making, civic and professional organizations.
• Monthly seasonally adjusted unemployment rates for Illinois and the Chicago-Naperville-Joliet Metropolitan Division are available at: http://lmi.ides.state.il.us/laus/icmaur.htm.
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