Lake County jobless rate falls to 7.8 percent in November
NEWS-SUN STAFF REPORT December 27, 2012 5:58PM
Updated: January 29, 2013 6:29AM
The unemployment rate in Lake County fell to 7.8 percent in November from 8.5 percent a year earlier, while the area added 4,100 new jobs, the Illinois Department of Employment Security said Thursday.
The report showed the biggest job gains in Illinois were in the Lake County-Kenosha metropolitan division, up 1.1 percent, and the Springfield area, up 1,300. Industry sectors increasing jobs were in the leisure and hospitality, and manufacturing.
The jobless rate fell year-over-year in all metropolitan areas of the state except the Decatur area, where it rose from 9.8 percent to 10.2 percent, according to the agency report, which is not seasonally adjusted.
There were year-over-year job gains in six metropolitan areas and job losses in six.
“The trend of falling unemployment rates across Illinois shows that our economy continues to improve,” IDES Director Jay Rowell said. “The largest challenge to local economic growth is the fiscal cliff. Economic progress could slow at every level and we risk another recession if Congress does not work together to craft a solution.”
Rowell was referring to the simultaneous expiration of the Bush-era tax cuts and automatic spending cuts set to go into effect next week if a deal isn’t reached.
Biggest job losses were in the Danville area, down 900; and the Decatur area, down 800.
The highest unemployment rate was reported in the Rockford area at 10.5 percent, down from 11.8 percent.