Road to Depression

Illinois unemployment up sharply to 9.9%!

on . Posted in Road to Depression

CHAMPAIGN, Illinois (PNN) - September 15, 2011 - The Illinois unemployment rate shot up almost half a percentage point in August, to 9.9%. It was the fourth straight month of diminishing job prospects that state officials blame on weak consumer confidence and the struggles of the national economy.

Even the state's manufacturing sector, which had been a bright spot even while other types of employers shed jobs the past few months, cut employment in August.

Illinois' unemployment rate surged up from 9.5% in July but has been increasing since it was at 8.7% in May, according to the Illinois Department of Employment Security. The official national jobless rate held steady in August at 9.1%, while the actual unemployment rate remains closer to 23%.

"We know that consumer confidence drives our economy, and that confidence has been shaken across our country," Department of Employment Security spokesman Greg Rivara said. "So it is a challenge for any state to sustain positive momentum while the national economy remains so uncertain."

Nationally, pessimism about the economy increased sharply in August, according to the Conference Board, the private group that surveys Amerikans every month about consumer confidence. The board's monthly index fell by more than 14%.

The number of unemployed people in Illinois actively looking for work in August increased by 25,400, to 653,000, according to the department. That's an increase of 4%.

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