Thursday, March 25, 2010

Illinois unemployment rises, but signs point to joblessness slowing

Unemployment in Illinois edged higher in February, holding at a 26-year high.

But a measure of joblessness indicates the pace of job loss is slowing.

The seasonally adjusted jobless rate rose to 11.4% last month, the highest since July 1983, up from 11.3% in January, according to the Illinois Department of Employment Security.

The report showed that there were 900 fewer jobs in Illinois month over month. However, the three-month moving average showed an increase of about 300 jobs.

The IDES report also followed news that Illinois factories are starting to hire again. Manufacturing showed an increase of 900 jobs in February, the sector's second straight month of gains after two years of losses. One thousand jobs were added in January.

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